Xerox Shares Gain on Lexmark Acquisition

Dow Jones12-23 23:18

By Dean Seal

Shares of Xerox Holdings advanced after it agreed to buy Lexmark International in a deal that values the printer maker at $1.5 billion, including debt.

The stock was up 5.5% at $8.85 in early trading. Shares are still down 52% since the start of the year.

The acquisition announced Monday confirmed an earlier report from The Wall Street Journal.

Xerox's takeover brings Lexmark back under U.S. ownership, as it is currently owned by the Chinese-listed printer maker Ninestar, private-equity firm PAG Asia Capital and asset manager Shanghai Shouda Investment Centre.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 23, 2024 10:18 ET (15:18 GMT)

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