Xerox sets shareholder vote on ACS deal for Feb. 5

AP News
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Posted: Dec 28, 2009 8:34 AM

Xerox Corp. on Monday scheduled a shareholder vote on its planned acquisition of outsourcer Affiliated Computer Services Inc. for Feb. 5.

The printer and copier company plans to buy ACS in a cash and stock deal aimed at expanding the back-office services it offers other companies. The value of the deal was estimated at $6.4 billion when it was announced in September.

Xerox issued about $2 billion in bonds this month to help pay for the acquisition.

Shareholders of both companies on record as of Dec. 11 will get a chance to vote on the deal in special meetings Feb 5.