January 06 - 16:01
Xerox secures $24bn in funding to support proposed buyout of HP
Xerox has secured $24 billion in financing commitments from Citi, Mizuho and Bank of America to support its proposed acquisition of HP. Writing to HP shareholders, Xerox CEO John Visentin said that bringing the companies together would deliver "substantial synergies" and "meaningfully enhanced cash flow". Citi is acting as Xerox’s financial advisor, with King & Spalding providing legal counsel.
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