HP Shares Fall After Xerox Ends Hostile Takeover Bid
April 01 2020 - 11:13AM
Dow Jones News
By Colin Kellaher
Shares of HP Inc. fell more than 8% in early trading Wednesday
after Xerox Holdings Corp. abandoned its hostile pursuit of it
larger rival.
Xerox shares also moved lower amid a down market Wednesday.
Xerox on Tuesday said it was ending its more than $30 billion
tender offer for HP after the coronavirus pandemic undermined its
ability to pull off the debt-laden takeover.
HP shares were recently trading at $15.85, down 8.7%, while
Xerox shares were changing hands at $18.27, down 3.5%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 01, 2020 10:58 ET (14:58 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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