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Image: Xerox
Xerox has announced that it will no longer attempt to acquire computer-hardware giant HP due to the COVID-19 pandemic, which has had (and continues to have) a devastating effect on the world and its markets. According to the company’s press release, Xerox is putting the health and safety of its workers ahead of what has largely been reported as a hostile takeover.
“The current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19 have created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP Inc.,” Xerox wrote. “Accordingly, we are withdrawing our tender offer to acquire HP and will no longer seek to nominate our slate of highly qualified candidates to HP’s Board of Directors.”
“While it is disappointing to...
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