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Xerox to Buy Out Lexmark by End of 1st Quarter 2024???
I cannot verify the rumor that Xerox is planning to buy Lexmark by the end of Q1. However, I can tell you that Xerox and Lexmark have announced previous partnerships, where Xerox will provide financing for selected Lexmark Managed Print Services (MPS) engagements. This is part of Xerox’s new global payments solutions business, Xerox Financial Services (XFS), which aims to finance both Xerox and third-party workplace technology needs. Xerox and Lexmark have not disclosed any details about the terms or the scope of their partnership, nor have they indicated any intention to merge or acquire each other. Therefore, the rumor that Xerox is going to buy Lexmark by the end of Q1 is unsubstantiated and speculative at this point.
Lexmark International had a total debt of $1.03 billion as of 2023. However, this may not reflect the most recent financial situation of the company, as it has faced some challenges due to the coronavirus pandemic and its debt obligations and by being affiliated with the CCP.
Xerox Holdings Corporation had a total debt of $3.61 billion as of September 2023. However, it also had a cash and cash equivalent balance of $532 million, which means its net debt was $3.08 billion. The company’s debt to equity ratio was 1.06 for the same period, which indicates a high level of financial leverage. Xerox’s debt level has been relatively stable over the past year, but its revenue and profitability have declined due to the pandemic and supply chain disruptions. Xerox is trying to improve its operating income by simplifying its business, investing in growth areas, and returning cash to shareholders. It was also just mentioned yesterday that Xerox had completed its A4 Printer Engine Transition by Embracing Lexmark’s (Chinese) Technology.
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