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Report: Xerox Mulls Bid To Buy HP After $2.3B Deal With Fujifilm

The Wall Street Journal report comes after HP began a major restructuring under its new CEO, Enrique Lores, and after Fujifilm announced Monday night that it will buy Xerox's remaining ownership in the Fuji Xerox joint venture for $2.3 billion.

Xerox is reportedly considering a bid to acquire HP Inc. at a premium over the PC and printer vendor's $27 billion market value.

The bid would be a cash-and-stock offer for HP, The Wall Street Journal reported Tuesday night, citing sources familiar with the situation. However, there's no certainty as to whether the bid will move forward or if it would succeed given that HP is three times the size of Xerox, the report stated.

[Related: Xerox Looks To Expand In Asia Following Sale Of Fuji Xerox]

CRN reached out to both HP and Xerox. An HP spokesperson said the company does not comment on rumors or speculation. Xerox had not responded at press time.

According to The Wall Street Journal, Xerox has received an "informal funding commitment from a major bank.” The Journal reported that a mergergive the two companies the opportunity to cut more than $2 billion in expenses.

The report comes after HP began a major restructuring under its new CEO, Enrique Lores, who started last week, and after Fujifilm announced Monday night that it will buy Xerox's remaining ownership in the Fuji Xerox joint venture for $2.3 billion. Fujifilm also announced that it is dropping a $1 billion breach of contract suit against the American copier.

The Fujifilm-Xerox deal is set to close later this month.

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