Citing Coronavirus, Xerox Suspends Pursuit of HP
Citing the growing threat of the novel coronavirus to its "various stakeholders," Xerox (NYSE: XRX) indicated today that it is putting its hostile takeover attempt of rival computer and printer maker HP Inc. (NYSE: HPQ) on the back burner for the time being.
"In light of the escalating COVID-19 pandemic," advised CEO John Visentin, "Xerox needs to prioritize the health and safety of its employees, customers, partners and affiliates over and above all other considerations, including its proposal to acquire HP."
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Source Fool.com