Printer and copier maker Xerox (XRX) is considering making an offer to buy personal computer and printer maker HP (HPQ) in a deal that would combine two storied names in the technology field. HP stock surged on the news Wednesday.
The Wall Street Journal reported late Tuesday that Xerox is looking to make a cash-and-stock offer for HP, which has a market value of about $27 billion. The deal would be like a minnow swallowing a whale since Xerox has a market capitalization of about $8 billion.
Norwalk, Conn.-based Xerox has received an informal funding commitment from a major bank to back the deal, the Journal said.
HP stock soared 11%, near 20.40, in morning trading on the stock market today. Xerox stock rose 3%, near 37.45.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor companies.
YOU MIGHT ALSO LIKE:
Adobe Stock Gets Price-Target Hikes On Creative Cloud News
Microchip Technology Misses September-Quarter Sales Target, Guides Lower
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
Find Winning Stocks With MarketSmith Pattern Recognition & Custom Screens
The post Xerox Eyes Takeover Of Much-Larger HP As Both Tech Firms Struggle appeared first on Investor's Business Daily.
http://feedproxy.google.com/~r/BusinessRss/~3/cw1BoW2Ha2o/
No comments:
Post a Comment