ACS stockholders will receive $18.60 per share in cash plus 4.935 Xerox shares for each ACS share they own. Xerox, based in Norwalk, Conn., will also take on $2 billion of ACS's debt and issue $300 million of convertible preferred stock to ACS's Class B shareholder.
Xerox expects to save $300 million to $400 million in the first three years after the deal closes.
Both companies' boards have approved the acquisition, which is targeted to close in the first quarter of 2010.
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