Xerox Holdings is close to concluding a deal to acquire American printer maker Lexmark International, Inc. from its Chinese owners in a transaction valued at $1.5 billion, including debt, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Lexmark is a privately held company currently co-owned by Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre. Xerox is expected to bring the company back under the United States' ownership by reportedly financing the deal with a combination of cash and committed debt financing.
According to the report, the deal, which is expected to be officially announced today, would boost Xerox's core printing portfolio and "roughly double" the company in size. Xerox and Lexmark reportedly already have an established business relationship, as the latter has been a supplier for the former for years.