»

Report: Xerox considering HP takeover

A new multibillion-dollar deal could be in the works for Xerox.

According to a report by The Wall Street Journal, the company is considering a takeover of HP Inc. The computer and printing giant is valued at $27 billion.

Xerox is looking to make a cash-and-stock offer. The board discussed the possibility Tuesday, and the company has an informal funding commitment from a major bank, the Journal reports.

Sources told the Journal that the deal could save more than $2 billion in expenses. Both companies have been fighting to come up with solutions to a decline of demand for printed documents.

Read more from WHEC-TV

Also on FingerLakes1.com