In an official statement, HP Global rejected the offer from Xerox Printing Solutions, for acquisition of $ 35 billion.

The statement said, the HP Board of Directors believes that Xerox's offer of cash and shares of $ 35 billion is not in the interest of HP shareholders , as the merger may lead to paralysis in sales traffic.

The statement also recommended HP shareholders to reject Xerox's offer to buy their shares, while Xerox had launched a public tender of $ 24 cash and 0.149 shares of its shares for each HP share .

While Xerox has not responded to this statement in an official capacity yet.

Notably, Xerox has been trying to acquire HP four months ago, but HP has so far rejected all attempts by Xerox as unrepresentative of HP's true value .

HP's market value was about $ 30.7 billion, while Xerox's market value was $ 6.85 billion.