Xerox has reportedly rejected a bid to merge its document company with the financial printing firm R.R. Donnelley & Sons.
That according to the Wall Street Journal, which says Xerox turned down a proposal to merge its document business with Donnelley.
Xerox is scheduled to split into two companies later this year, one focusing on document technology, the other on business process outsourcing.
The WSJ said that a proposal for the merger between the document business and R.R. Donnelley called for Donnelley executives to take control of the combined operations and also called for several hundred million dollars in new cost cuts. The Journal says the Xerox board reviewed the proposal with its advisers before telling Donnelley officials it wasn't interested, believing that its own plan is less risky, according to sources quoted by the newspaper.
Xerox declined comment when contacted by WXXI News, and generally does not comment on speculation in the financial press.