Xerox reportedly planning a cash-and-stock offer for PC and printer maker HP
The company's board discussed the possibility on Tuesday, people familiar with the matter told the Journal, adding that Xerox has an informal funding commitment from a major bank.HP'sRepresentatives from Xerox and HP were not immediately available to respond to CNBC's emailed requests for comments.
As both companies look to cut costs, sources told the Journal that combining the companies could save more than $2 billion in expenses.by the end of fiscal 2022 as part of a broader restructuring plan that it estimates will save $1 billion a year. That would amount to almost 16% of its 55,000 employees worldwide, according to FactSet.
HP was created after Hewlett-Packard separated its enterprise business — Hewlett Packard Enterprise — that sells data storage equipment, servers, and other related services.
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