(Reuters) - Xerox Corp said on Monday it was exploring the possibility of a “strategic transaction” for its customer financing business, which accounts for more than 65 percent of its overall debt.
The printer maker said its plan to simplify its operations would lead to gross savings of at least $640 million in 2019 and $1.5 billion by 2021.
The move comes close on the heels of a plan announced by the company to restructure itself to become a wholly owned unit of a new holding company, which will trade under its current ticker.
Xerox has been exploring options following the termination of 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. read the rest here