Icahn thinks a combination of the two printer companies would generate substantial profits for investors.
Last week, Xerox offered to buy HP for $22 a share, including $17 a share in cash and 0.137 Xerox share for each HP share. Xerox is far smaller than HP—current market valuations are $8.5 billion for Xerox, $29.6 billion for HP—and would require considerable additional borrowing by Xerox to fund the cash portion of the proposed deal.
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