HP Inc said on Sunday it had rejected an offer from printer maker Xerox Corp to buy the company, saying the $33.5 billion cash-and-stock proposal “significantly undervalues” the personal computer maker. “In reaching this determination, the Board also considered the highly conditional and uncertain nature of the proposal, including the potential impact of outsized debt levels on the combined company’s stock”, HP said, adding it had also taken note of Xerox’s annual revenue decline in making its decision. Xerox made the $33.5 billion cash-and-stock offer earlier in November, HP said on Sunday, citing a letter received from Xerox …read more
Source:: Yahoo Finance
