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)

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