1. HP says 'no' to Xerox takeover bid

    HP says 'no' to Xerox takeover bid

    HP's board of directors has rejected Xerox's bid of $22 per share, saying it would undervalue the printer and computer maker. In a letter to Xerox's CEO, the board suggested that the newly combined company would have too much debt, but that it was still open to further discussing a possible merger. HP is worth $29 billion, and announced in October it would be cutting between 7,000 and 9,000 jobs over the next three years as part of a plan to save money.

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