Xerox’s reported HP bid could create a PC and printing juggernaut - flowerslitty1953
Mark out Hachman / IDG
Xerox is considering a bid to get HP, which would unite a leader in copiers and printers under one roof.
The The Street Journal according Monday night that Run off, today somewhat flush with cash following the $2.3 billion sales event of ventures with Fujifilm, could make a cash-and-stock invite for HP, worth about $27 billion. Xerox, with a market price of just finished $8 billion, would need some assist, and the report reported that it's found additional funding with an unnamed bank.
Horsepower has yet to respond to the report card.
Xerox recorded $221 million of net profits on revenue of $2.2 billion for the third gear draw and quarter. More significant, nonetheless, is that sales dropped 6 per centum from a yr agone, in the first place attributable the fact that customers are copying and printing less. Sales of consumer equipment declined, as did paper and maintenance contracts. HP's printer job also declined away 5 percent during its August quarter. Some companies also shared another common trait: consumer demand for copiers and printers was down significantly, with enterprise products less and so.
The rational, then, is that combining HP and Xerox would streamline both businesses and take costs out of the equation. HP too ordered out a restructuring plan that would cut back gross globose headcount by approximately 7,000-9,000 employees through a combination of employee exits and willing incipient retreat, HP said in October. Could a fusion solve both companies' woes? Xerox seemingly thinks so.
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As PCWorld's senior editor, Mark focuses on Microsoft news and chip technology, among other beats. Atomic number 2 has formerly written for PCMag, BYTE, Slashdot, eWEEK, and ReadWrite.
Source: https://www.pcworld.com/article/398323/xeroxs-reported-hp-bid-could-create-a-pc-and-printing-juggernaut.html
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