Xerox has now raised $24 billion to pursue its takeover of rival HP by skleb1234
to HP’s board from Xerox CEO John Visentin, the company confirmed that it had obtained $24 billion in financing from major financial institutions—Citi, Mizuho and Bank of America.
While there was initially doubt over whether Xerox would be able to raise the cash necessary to complete such a deal, these latest funding commitments are a, which shows that the printing company is serious about its “value-creating combination with HP.” “One of the big reasons HP said they wouldn’t accept a deal was concerns around Xerox’s financing—and now Xerox is publicly showing that they’ve resolved one of the big roadblocks in place,” says Morningstar analyst Mark Cash. “This financing may cause shareholders who were previously against a deal to maybe think twice about Xerox’s proposal.”
The two companies have been at odds since November when Xerox made several unsolicited bids that were unanimously rejected by HP’s board of directors. The rejection led Xerox to take its offer directly to HP shareholders in a bid to
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