HP mulls over Xerox offer

At one corner is a company that made cyclostying machines (above) history and whose name became a verb for photocopying. At the other corner is an IT giant that spewed dots per inch and made printing easy at home and in the office. From speculations this week, it looks like the two may become one.HP Inc has just issued a statement confirming a takeover bid by Xerox.

According to the statement, HP Inc has had conversations with Xerox Holdings Corporation from time to time about a potential business combination.

“We have considered, among other things, what would be required to merit a transaction. Most recently, we received a proposal transmitted yesterday.  We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye towards what is in the best interest of all our shareholders,” the company said.

Sources estimate the takeover deal to be about US$33 billion, involving cash adn stock.

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