HP Rejects Xerox Offer as Too Low

HP rejected Xerox's $33.5 billion offer, citing undervaluation and concerns over Xerox's declining revenue. However, HP is open to further discussions. Activist investor Carl Icahn, who holds stakes in both companies, is pushing for the merger, believing it will yield significant profits. The merger could create a $70 billion revenue giant, reviving two companies whose fortunes have waned in the digital age.

How have the stock performances of Xerox and HP differed in the past year?

What are the estimated combined revenues if HP and Xerox merge?