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Previously, I wrote about investing for Money Magazine and was an intern at Forbes in 2015 and 2016. “We will press ahead,” Xerox said on Friday.I am a New York—based reporter for Forbes covering breaking news, with a focus on financial topics. HP's board has consistently rejected Xerox's efforts to force a combination, and now says that a merger would be even more tenuous given the current economic environment and global health crisis. Well, this HP-Xerox thing is getting hostile.The copier maker is officially backing down from its efforts to force a merger with rival HP, citing market turmoil caused by the COVID-19 pandemic.Xerox said it plans to bring a full slate of new directors to HP's annual shareholder meeting in an attempt to overthrow HP's existing board via shareholder vote. You may unsubscribe from these newsletters at any time.HP says Xerox has "visible and substantial declines" that would mean any combination would be hamstrung. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History.

Previously, I wrote about investing for Money Magazine and was an The news follows weeks of pressure from Xerox management backed by corporate raider Carl Icahn, who owns stakes in both companies: 10.85 per cent of Xerox and 4.24 per cent of HP. Xerox's board of directors threatened to go to HP's shareholders if the company does not reconsider its acquisition bid, Xerox said in a letter to HP directors Thursday.. HP in a letter to Xerox said that the latter party has too many issues to merge.Please review our terms of service to complete your newsletter subscription.The short version is that Xerox just isn't good enough, can't execute and mortgaged its future for the cash needed to even float buying a much larger company.Microsoft starts using machine learning to select PCs on older versions of Windows 10 to bump up to version 2004.Microsoft promises fix for Windows 10 glitch that can cause USB printer ports to become unavailable.

Xerox shares are down 2.2% so far in 2020, while HP shares have gained nearly 9%.