A Buyout At Xerox?By
With its shares on the ropes, Xerox (XRX) has been dogged by speculation. The stock has plunged to 15--down from 30 in March--since posting disappointing second-quarter results. Rumors have swirled that Xerox could be easy pickings for a U.S. tech giant or a foreign company. Xerox has gotten feelers from several would-be suitors, including Hewlett-Packard and a group that includes Japan's Canon--which makes copiers, printers, and cameras--and Silverlake Partners, an investor group, says one pro. "But the talks have brought no conclusive results, so far." It would "make strategic sense for Hewlett or Canon," says one tech guru. He figures Xerox could fetch 30 to 35 a share, or $20 billion to $24 billion.
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