Xerox Corp. (XRX) said Wednesday that three independent voting advisory firms, RiskMetrics Group, Glass Lewis & Co., and PROXY Governance, Inc., have recommended shareholders vote "FOR" the company's acquisition of Affiliated Computer Services, Inc. (ACS).
In September, Xerox signed an agreement to buy Affiliated Computer Services, Inc. (ACS) in a cash and stock deal valued at $63.11 per share or $6.4 billion.
In its analysis, RiskMetrics said, "The consensus view of shareholders appears to portray confidence in Xerox management's ability to successfully integrate ACS."
"The merger is expected to create a global enterprise that can enhance the combination of products and support services for its customers," said Glass Lewis in recommending that Xerox shareholders approve the acquisition.
PROXY Governance noted strong support from equity analysts on both the valuation and strategic vision of the acquisition, and stated in its report, "We believe shareholders will be best served by supporting the proposed transaction."
Special meetings of shareholders will be held on February 5 for Xerox and ACS shareholders to vote on the deal.
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