Xerox provided $ 24 billion in financing for the deal with HP

Xerox provided $ 24 billion in financing for the deal with HP

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Xerox’s desire to buy CP has become one of the most discussed topics in the tech industry in recent weeks. It seems that the company has not given up on one of the largest acquisitions in the IT sector.

We have already informed you that HP has again rejected Xerox’s offer, but this is not the end of their attempt to reach a final deal. New data reveals that Xerox is negotiating with three major banks to provide the financing needed for the deal.

According to ChannelNomics, Xerox has already generated 72% of the capital needed to acquire the acquisition. The impressive $ 24 billion will be secured through investments from Citigroup and Bank of America.

In parallel, Japan’s Mizuho Financial will join them. We remind you that Xerox’s own bid to acquire HP is $ 33 billion, and the rest of the money will come from Xerox’s own finances.

The specific financial parameters agreed between Xerox and the three lending banks are not publicly known. However, it should be noted that the acquisition of the HP company predicted that the capital would be 70/30.

The majority is cash financing, the other in the form of shares. Xerox has secured 72% of the three banks and is likely to supplement their offer by providing relevant shares. The deal seems to be still on the agenda.

Xerox provided $ 24 billion in financing for the deal with HP

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