Just days after it was leaked to Bloomberg that Xerox was in talks to acquire RR Donnelley, the digital print supplier has shot down the claims.
Xerox has been seeking potential deals since revealing its plan to split into two businesses in January. Analysts believed the takeover would give Xerox the growth it has been unable to achieve organically.
It was reported, citing sources, that the two companies – the world’s biggest printer and the world’s biggest digital press supplier – were in talks, however the deal was not considered imminent and significant issues were still being negotiated.
The Wall Street Journal has since confirmed Xerox has rejected the bid which involved a merger of its document business with, RR Donnelley.
Both Xerox and RR Donnelley have yet to issue a public statement regarding the matter.
RR Donnelley’s shares which jumped 12 per cent on news of the potential sale have since dropped by 10 per cent.
RR Donnelley had sales of $US11.6bn last year while Xerox generated sales of $US18bn, made up of US$11bn from its technology business and US$7bn from its business processing outsourcing service.
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