 "xerox")
Xerox Holdings Corp decided on Tuesday to abandon its $35 billion hostile cash-and-stock bid for HP Inc after the coronavirus outbreak put the brakes on its takeover campaign, according to people familiar with the matter.
The decision came after Xerox said earlier this month it would postpone meetings with HP shareholders to focus on coping with the coronavirus pandemic. It is a blow to billionaire investor Carl Icahn, who owns big stakes in both companies and had pushed for their merger.
Xerox's board concluded that
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