Claims Resolved in Lawsuit Related to Xerox's Planned Acquisition of ACS
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The parties agreed that if ACS's board of directors receives a superior proposal, and, as a result, withdraws its recommendation of the Xerox acquisition, Xerox will not enforce requirements in its voting agreement with ACS Chairman Darwin Deason that obligate Deason to vote any of his shares of ACS common stock in favor of the Xerox acquisition. In addition, Xerox, will not enforce any requirements of the Merger Agreement that compel ACS to hold the ACS stockholders' meeting to vote on the Xerox transaction and if requested by ACS, Xerox will terminate the Merger Agreement in accordance with its terms.
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- Companies:
- Xerox Corp.
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