While Xerox Holdings shares are rallying this morning on better-than-expected fourth-quarter results, one key observer isn’t impressed. HP Inc. still isn’t interested in being acquired by its smaller rival in the printer market.
In November, Xerox (ticker: XRX) offered to acquire HP (HPQ) for $22 a share—$17 in cash and the rest in Xerox shares. Were the offering to close on those terms, current HP holders would own 48% of the combined company. Over the past few months, HP has repeatedly declined the offer. And it repeated that position again after Xerox released its latest earnings report. read the rest here