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HP rejects Xerox takeover proposal, recognizes benefit of ‘potential combination’ (access required)

Days after revealing that activist investor and Xerox Holdings Corp. majority shareholder Carl Icahn had purchased $1.2 billion in Hewlett Packard Inc. stock—a sign that the 83-year-old investor wholeheartedly backed a merger between the two companies—HP announced it had rejected Xerox’s unsolicited bid to acquire the Palo Alto, Calif.-based computer giant. In a statement released Sunday, ...
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