HP turned down a $33 billion (N12trn) hostile takeover bid from Xerox on Sunday, with the fact statement that it undervalued the computer and printer making giant.

But a statement from the HP board stated that discussion of a possible deal with its rival, a venerable tech company in the US, best known for its photocopy machines is being considered.

Stating that potential benefits of consolidation is recognized, and are open to exploring the possibility of value creation for HP shareholders through a potential combination with Xerox, HP might actually be cooking up something.

But according to the company's board members, there are fundamental questions that need to be addressed first.

It was pointed out that, Xerox’s revenue dropped by roughly $1 billion from $10.2b (roughly N3.7trn) to $9.2b (roughly N2.7trn) since June 2018.
And HP is stated to be three times more valuable than Xerox with a $27 billion (roughly N10trn) in market value.

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