Xerox CEO Ursula Burns Leads $6.4 Billion Acquisition

- By Bossip Staff

For all the folks who are “drunk” on racism and have a million excuses why you can’t get ahead, there are people out there who look like us who are doing some big thangs. Case in point, Ursula Burns.

Xerox Inc. has agreed to pay $6.4 billion cash and stock for Affiliated Computer Services Inc., giving the copier giant an outsourcing and information-services company as corporate spending remains weak. Ursula Burns, who became Xerox’s chief executive July 1, called the deal “a game-changer” for her company, saying it “helps us expand our business and benefit from stronger revenue and earnings growth.” Its shares fell 5.1% pre-market to $8.56.

The deal will triple Xerox’s service revenue to an estimated $10 billion next year from 2008’s $3.5 billion. It will also give the combined company $22 billion of annual revenue, $17 billion of which is coming on a recurring basis.

The deal values ACS shares at $63.11 each, a 34% premium to Friday’s closing price and 55 cents below the stock’s all-time high set in February 2006. Holders would get $18.60 and 4.935 shares of Xerox for each ACS share. Xerox also will assume $2 billion of ACS debt and issue $300 million of convertible preferred stock.

Up to $400 million in synergies are projected to be realized in the first three years after the deal’s closing, slated for the first quarter.

Ursula Burns is someone to watch out for. We don’t know if this big acquisition will work out, but she is putting everyone “on notice,” she is not playing around.

Via WSJ

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Comments

  • TASTY

    A SISTA.. GO GIRL 🙂

  • Hannibal

    WHY SHE GOT A BALD FADE?

  • Miss B

    KUDOS!!! Keep Up the Good Work 🙂

  • Angee

    Alright Now!!!

  • charlotte

    Yah, a positive story on blacks on here! I normally have to go to eurweb for this type of info

  • Tella

    Bravo…I will cherish this picture and paragraph forever…but what would be nice is the knowledge and the guidance as opposed to a picture of someone who made it…

  • Bunni

    Bald fade, bald head, who gives a damn. This woman’s talent, ability, intellect, and business savvy transcends the superficial and goes on to prove that THESE are the real things that shape our humanity and empower us, not a hair style. How many billion dollar deals, hell, 10 dollar deals have you negotiated Hannibal? You’d be happy if Ursela tipped your broke azz $20 dollars chump change to scrub her toilet bowl. Dummy.

  • Tella

    lol…but I don’t want to be a manager of a project…I want to know about the man or corporation that owns it…that’s what my eyes is on.

  • Infinit45 (Kanye was out of pocket)

    I love a black woman in power! She looks like she’s a beast when it comes to taking care of business. Congrats and good luck Ms Burns.

  • No u can't be boyfriend #2!

    It’s always good news when you have positive figures in the news! That’s great!

  • Ron G

    Tella,

    That’s what libraries, books, schools, and mentors are for. Stop looking for a guy with swag, going to the club, etc and maybe you can get the “knowledge and guidance”, you lazy bum.

  • http://urbanfrugalchic.com Khristal

    Nice to see a sista..Doing it Big!

  • TM30

    This is another example that proves you can do anything if you put your mind to it. Now there are some cases where folks are held back but in those instances you have to look at what’s holding you back and try not put yourself in a position where you’re stuck with no alternatives.

  • S-Dizzy

    That’s whats up!!

  • peter illyich

    The comment about her hair is priceless. Talk about missing the point.

  • THE TRUTH _ Pretty brown eyes

    yeah thats my type of idol. thats a boss

  • Bill Bigsby

    KEEP UP THE GOOD WORK. WE R PROUD

  • http://www.myspace.com/miss_kesha Miss Kesha86

    Pshhhh, I meant Ursula Burns lol.

  • I'm Just Me: KEEPING IT REAL SINCE 1983

    Yes, another very decent for model for us to look up to. Good. Tired of these skeezer type broads that are being hyped up like they are role-model types.

  • Larry

    we call that inspiration

    thelayoutspot.net

  • Callem Out

    She don’t look like YALL, I don’t see her in no weave, fake lashes, face full of makeup…see this is a REAL BW.

  • DayShifter

    The amount of responses to this post is a direct reflection of African Americans and what they truly value. Sh*it is just sad!!

  • Tella

    @LOIS LANE

    MY SENTIMENTS EXACTLY…now kudos to you sis!!!

  • PriscillaP

    FABULUS

  • the cure

    And she did it without a weave! I love it!

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