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HP Vs. Xerox: 4 Key Financial Metrics In The Takeover Fight

We take a look at the financials that are playing a central role in Xerox's bid to acquire rival HP.

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Stock Price and Market Cap

While HP is much larger than Xerox by market capitalization, the company's stock price and market cap have taken a hit over the past year amid issues such as declining printer supplies revenue. Prior to the news of the Xerox takeover bid, on Nov. 5, HP Inc. shares closed at $18.40. That was down from the closing price of $23 on Nov. 30, 2018 (when HP had updated its outstanding shares in its annual report).

The stock price drop combined with HP's share repurchases means that HP's market capitalization has declined significantly over the past year—to $27.23 billion as of Nov. 5 from $35.73 billion on Nov. 30 of last year. HP's market cap as of Wednesday was $29.16 billion, based on the latest disclosure of outstanding shares in the company.

Xerox's offer of $22 a share for HP represents a roughly 20 percent premium above HP's closing stock price on Nov. 5.

Xerox, meanwhile, has seen its share price and market capitalization increase over the past year. As of Oct. 31, prior to the takeover bid, Xerox shares closed at $33.93 and the company's market cap stood at $7.33 billion. That was up from a share price of $26.88 and market cap of $6.4 billion exactly one year earlier. As of Wednesday, Xerox's market cap had climbed to $8.28 billion, based on the latest disclosure of outstanding shares in the company.

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