Xerox, the U.S manufacturer of printers and photocopiers, is considering making a bid for PC and printer manufacturer HP. If the takeover takes place, it will see the merger of two of the biggest players in office equipment.
This has been reported by the Wall Street Journal (WSJ). Xerox is said to pay $ 27 billion for HP. Xerox has also secured an informal funding commitment from a major bank.
HP has been struggling in the PC market for some time. Revenues from the company’s printing business are also declining. Last month, the company announced plans to reduce its workforce by as much as 16% and recently appointed Enrique Lores as the new CEO, succeeding Dion Weisler.