Xerox Stock Soars on $1.5B Acquisition of Printer Maker Lexmark
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Xerox Holdings (XRX) shares rose by nearly 7% after announcing a $1.5 billion acquisition of Lexmark International. The acquisition aims to address the needs of workers with flexible schedules. Xerox also reduced its dividend by 50% to fund the acquisition.
December 23, 2024 | 5:45 pm
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Xerox Holdings shares increased by nearly 7% following the announcement of its $1.5 billion acquisition of Lexmark International. The acquisition is intended to address the needs of workers with flexible schedules. To finance the acquisition, Xerox has halved its dividend.
The acquisition of Lexmark is a strategic move by Xerox to expand its market presence and address the growing demand for flexible work solutions. The market reacted positively, as evidenced by the 7% increase in stock price. However, the dividend cut may have mixed reactions from income-focused investors.
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