HP confirms Xerox takeover talks

HP Inc. confirmed late Wednesday it received a proposal from Xerox Holdings Corp. on Tuesday. That was the most recent of the several “conversations” with Xerox “about a potential business combination,” HP said in a statement. “We have considered, among other things, what would be required to merit a transaction,” it said. The Wall Street Journal reported late Tuesday that Xerox was mulling over a potential buyout bid for HP that would be below $23 a share. HP shares gained 1.1% in the extended session Wednesday, while shares of Xerox were flat. The stocks gained 6.4% and 3.6% in the regular trading day.

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