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Shareholder Takes Xerox to Court Over Company Split

Billionaire Darwin Deason, a Xerox shareholder, filed a lawsuit in Dallas to prevent the company from breaking into two separate publicly traded companies, as he claims the move will hurt the value of his stake. So reports the Democrat and Chronicle.

CEO Ursula Burns said the company is planning to reverse its acquisition of Affiliated Computer Services, a company Deason founded in 1988. Xerox bought ACS for $6.4 billion and is planning to spin off those operations into Conduent, a business process outsourcing business.

A spokesperson at Xerox called the lawsuit "meritless" and an analyst with New York City-based research firm CFRA Research said the lawsuit most likely will not interfere with the split.

Read the full article from the Democrat and Chronicle.

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