XEROX CORP: M&A transaction — Xerox completes $1.5B Lexmark acquisition; expects accretive synergies of $238M

XEROX CORP

Total consideration of $1.5B inclusive of net debt and assumed liabilities; combined entity serves 200K+ clients in 170+ countries.
Financing includes $250M 13% notes due 2030, $327M term loan, $400M 13.5% notes due 2031, and $125M 13% notes due 2026.
Expects deal to be accretive to 2025 adjusted EPS and FCF; $238M synergies adding >$1/share by end of second year post-close.
Steve Bandrowczak remains CEO; unified leadership team from both companies.

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Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

XEROX CORP incurred senior notes of $250,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 13.00% per annum maturing 2030.

Instrument: senior notes
Principal: $250,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 13.00% per annum
Maturity: 2030
Event: incurrence

Exact text from the filing

Holdings completed its private offering of $250,000,000 aggregate principal amount of 13.00% Senior Notes due 2030

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

XEROX CORP incurred term loan of $327,152,215.80.

Instrument: term loan
Principal: $327,152,215.80
Event: incurrence

Exact text from the filing

Xerox Corporation made an incremental term loan borrowing of $327,152,215.80 ("Incremental Term Loans") under its First Lien Term Loan Credit Agreement

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

XEROX CORP completed an acquisition involving Ninestar Group Company Limited for total consideration of $1.5 billion, inclusive of net debt and other assumed liabilities (closed 2025-07-01).

Action: acquisition
Counterparty: Ninestar Group Company Limited
Consideration: total consideration of $1.5 billion, inclusive of net debt and other assumed liabilities
Closing: 2025-07-01

Exact text from the filing

On July 1, 2025 (the “Closing Date”), Xerox Corporation completed its acquisition of all of the issued and outstanding equity securities of Lexmark for total consideration of $1.5 billion, inclusive of net debt and other assumed liabilities.

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Source: SEC EDGAR

accession 0001193125-25-155007

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