Xerox is considering buying HP, which could save more than $2 billion a year, foreign media reported Tuesday, citing unnamed sources.
The bid will be a premium to HP's $27 billion market cap, the source said. At present, Xerox has a market value of $8.05 billion and HP has a market value of $27.3 billion.
Xerox's Board discussed the possibility on Tuesday. Xerox also received an informal funding commitment from an unnamed large bank.