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Xerox to Acquire Lexmark for $1.5 Billion, Bringing Printer Maker Back to U.S. Ownership; Deal Immediately Accretive

Dec 23, 2024, 12:24 PM

Xerox Corp. is nearing a deal to acquire Lexmark International for $1.5 billion, including debt, which will bring the printer maker back under U.S. ownership after eight years of being controlled by a consortium of Asian investors. The acquisition is expected to nearly double Xerox's size, strengthening its core printing portfolio. The deal is set to be immediately accretive to Xerox's earnings per share (EPS) and free cash flow (FCF). Xerox has also approved a change in its dividend policy, reducing the dividend from $1.00 per share to $0.50 per share. Following the announcement, Xerox's shares rose by 4.29% in pre-market trading.