3/31, 10:32 PM (Source: TeleTrader)
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Xerox to drop its $36B hostile takeover of HP - report

Xerox Holdings Corp. will drop its $36 billion hostile takeover bid to acquire HP Inc., the Wall Street Journal reported on Tuesday, citing sources with knowledge of the situation.

According to sources, the key reason for the cancellation of the offer are Xerox's business concerns stemming from the coronavirus' negative consequences on the global economy.

HP had previously rejected acquisition offers from Xerox multiple times.

Breaking the News / MS