HP rejects Xerox's sweetened takeover offer

HP Inc. rejected Xerox Holdings Corp.'s raised takeover bid of roughly $35 billion.

"The Xerox offer would leave our shareholders with an investment in a combined company that is burdened with an irresponsible level of debt and which would subsequently require unrealistic, unachievable synergies that would jeopardize the entire company," said Chip Bergh, chair of HP's board.

Xerox last month raised its offer by $2 to $24 per share.

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