Xerox Provides Update on Proposal to Acquire HP
Xerox Holdings Corporation (NYSE: XRX) (Xerox) today issued the following statement:
The current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19 have created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP Inc. (NYSE: HPQ) (HP). Accordingly, we are withdrawing our tender offer to acquire HP and will no longer seek to nominate our slate of highly qualified candidates to HPs Board of Directors.