Xerox Closes Transactions with FUJIFILM
Xerox Holdings Corporation (NYSE: XRX) announced today that it has closed its previously announced transactions with FUJIFILM Holdings Corporation, which included:
Total after-tax proceeds to Xerox from the transactions, which included accrued but unpaid dividends through closing, are approximately $2.3 billion. Xerox expects to use the proceeds opportunistically to pursue accretive M&A in core and adjacent industries, return capital to shareholders and pay down its $554 million December 2019 debt maturity.
Xerox expects to provide updated 2019 guidance by early December 2019 that incorporates the impact of the transactions.
King & Spalding LLP acted as legal counsel to Xerox in connection with the transactions.
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