News Formal

Xerox restructures business to create holding company

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

Xerox Corp said on Thursday it will implement a structure in which the printer maker will become a wholly owned unit of a new holding company.

The reorganization is expected to be implemented in mid-2019 and the new holding company's shares will trade on the New York Stock Exchange under its current ticker"XRX".A holding company structure allows a firm to lower its tax bill, protect patents and diversify its unit's businesses efficiently. In 2015, Google formed a holding company, Alphabet Inc, with distinct units under it.

Xerox scrapped a complex deal last year to merge with Fujifilm Holdings Corp after it ran into strong opposition from activist investors Carl Icahn and Darwin Deason. In the last two quarters, Xerox topped profit estimates and undertook initiatives to streamline its business under the new management led by Chief Executive Officer John Visentin, an Icahn appointee.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Straco Corp posts 12.4% fall in FY2018 earnings on Singapore Flyer suspensionTOURISM attractions operator Straco Corp saw full-year earnings drop 12.4 per cent to S$41.8 million, hit by the two-month ride suspension of the Singapore Flyer early last year due to a technical fault. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US House to hold hearing on Sprint, T-mobile proposed mergerU.S. House lawmakers plan to hold a March 12 hearing to review a proposed US$26 billion merger of T-Mobile US Inc and Sprint Corp with the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »