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HP Inc. has confirmed that Xerox Holdings Corp. made a takeover offer — a potential deal between two iconic names that would reshape the printing industry.

“We have had conversations with Xerox Holdings Corporation from time to time about a potential business combination,” the Palo Alto, California-based company said Wednesday in a written statement. “We received a proposal transmitted yesterday. We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye toward what is in the best interest of all our shareholders.”

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