Xerox completes ACS takeover deal

Xerox has finalised its $6.4 billion (£4.1bn) takeover of processing and document management outsourcing company Affiliated Computer Services (ACS).

The acquisition will help Xerox continue its expansion into the document services business. The takeover was approved by 96% of Xerox shareholders and 86% of ACS investors.

A minority of ACS sharholders had talked of blocking the takeover through legal action when it was first revealed last year, claiming ACS's value was potentially higher.

Xerox CEO Ursula Burns said: "Our shareholders' vote of confidence reflects the strategic and financial benefits of this acquisition.

"Through the acquisition, Xerox gains a growth catalyst that secures a strong, competitive future for our company and increasing value for our customers and shareholders."

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