Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Xerox Holdings Corporation (NYSE:XRX) is contemplating making a buyout offer to computer hardware company HP Inc (NYSE:HPQ), the Wall Street Journal reported on Tuesday.
What Happened
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The board of the Connecticut-based company discussed the possibility on Tuesday, and is considering making a cash-and-stock offer, people close to the matter told WSJ.
Xerox, a veteran printer and copy machine manufacturer, has a market value of $8.071 billion, while HP is valued at $26.64 billion, more than three times its value, data from Yahoo Finance shows.
HP spawned from the Hewlett-Packard Company when it disbanded in 2015.
What’s Next
The company has received a funding commitment from an unnamed major bank to help with the buyout deal, WSJ reported.
The publication mentions a possibility that Xerox doesn’t go through with the offer; even if it does, the company might not succeed in acquiring a company three times its size.
Xerox’s consideration comes at the same time when it is ending a year-long dispute with the Fujifilm Holdings Corporation (TYO:4901) over their joint venture Fuji Xerox.
The company has agreed to sell its 25% stock in the venture to Fujifilm for $2.3 billion, Bloomberg reported on Tuesday.
Price Action
Xerox's stock closed Tuesday at $36.37 per share, while HP Inc closed at $18.40 per share.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.