Xerox to buy Affiliated Computer for $6.4 billion

Xerox Corp plans to buy Affiliated Computer Services Inc in a $6.4 billion cash-and-stock deal that expands the copier company into outsourcing and data center management.

The deal, priced at a 33.6 percent premium to ACS's Friday closing price, is the latest in the active technology services sector. A week ago, Dell Inc said it would buy Perot Systems Corp. Hewlett-Packard Co bought Electronic Data Systems Corp in August 2008.

In its biggest acquisition ever, Xerox will pay 4.935 Xerox shares and $18.60 in cash for each share of ACS, totaling $63.11 per share based on Friday's closing prices, the companies said on Monday. That compares to ACS's record high share price of $63.66 in 2006.

Read Full Article from Reuters

- Posted: 2009-09-28 10:11:09

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