The Xerox (XRX) drama to take over HP (HPQ) has come to an whimpering end. The Norwalk, CT copier company ended it $35B hostile takeover bid for the larger HP on March 31, 2020. The copier manufacturer said that it will formally withdraw its tender offer and proposed slate of directors to replace HP’s board as I outlined on the Bach Seat. Xerox says they gave up because of uncertainty stemming from the Covid-19 pandemic. In a presser they said, 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
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Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedIn, Facebook, and Twitter. Email the Bach Seat here.