Computer and printer maker HP Inc. says it had received a “proposal” from copier maker Xerox and has had conversations “from time to time” with the company about a potential business combination.
HP said Wednesday evening that it received the proposal on Tuesday but did not provide details. It said it will do what is in the best interests of its shareholders.
Asked for details of the proposal, a Xerox spokeswoman said the company does not comment on “rumors and speculation.”
HP is the world’s second largest seller of PCs behind Lenovo.
The Wall Street Journal on Tuesday reported that Xerox was considering making a bid for HP.
“Xerox has set its sights on a takeover of personal-computer and printer maker HP Inc., an audacious move that would unite two fading stars of technology. Xerox is considering making a cash-and-stock offer for HP, which has a market value of about $27 billion,” the newspaper reported.
Both companies have faced difficulties as the demand for printed documents and ink have waned. They have both been trying to cut costs to boost results.
