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Here Is The ‘Strictly Confidential’ Xerox Offer That HP Rejected

When HP’s board rejected Xerox’s $33 billion takeover proposal Sunday it published the “confidential” letter it was given by Xerox CEO John Visentin. Here is what the copier giant offered HP.

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Two Years To $2 Billion In Cuts

Streamlining supply chain, distribution, and research and development were just some of the areas Xerox said it could leverage to save the new combined company $2 billion, according to its offer.

“Our preliminary analysis shows a clear path to cost synergies of at least $2.0 billion within 24 months: $0.5 billion in cost savings by leveraging our scale, combined supply chain and distribution footprint, and $1.5 billion in cost savings from combining our world class R&D groups and streamlining corporate functions.

Our Board of Directors strongly believes the industry is overdue for consolidation and that those who move first will have a distinct advantage in a secularly declining macro environment. By combining R&D capabilities and financial resources, together we can accelerate the transformation of our businesses and take a leadership role in key growth markets such as: 3D Printing, Digital Packaging and Labels, Graphics, Textile Printing, Workflow Software and IoT Enabled Services.”

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