New York (CNN Business) Xerox is dropping the niceties. HP said Thursday Xerox's proposal "significantly undervalues HP and creates meaningful risk to the detriment of HP shareholders." It has also raised significant concerns about Xerox's business strategy, noting that its revenue fell nearly 10% in 2019. A deal would be complicated by the fact that HP is more than three times the size of Xerox: HP has a market value of $32 billion, compared to Xerox's less-than-$8 billion valuation. Both Xerox and HP spun off their big money-making ventures in recent years, leaving behind aging printing businesses that remain profitable.

Source: CNN January 23, 2020 15:03 UTC