28 Sep Xerox shares plunge on ACS deal
Shares of Xerox fell about 15% in Monday trading on concerns that the company’s plan for a multibillion dollar acquisition of outsourcer Affiliated Computer Services could expose the imaging giant to significant debt and integration problems.
Xerox shares were off 14.86% Monday, to $7.68. ACS shares rose 13.76%, to $53.75. Xerox announced a deal, initially valued at $6.4 billion, to buy out ACS prior to the opening of financial markets Monday.
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