Simpson Thacher Represents Xerox Corporation In $6.4 Billion Acquisition of Affiliated Computer Services, Inc.
09.28.09
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The Firm is representing Xerox Corporation ("XRX") in their cash and stock acquisition of Affiliated Computer Services, Inc. ("ACS") valued at $63.11 per share or $6.4 billion.
Under the terms of the agreement, ACS shareholders will receive $18.60 per share in cash plus 4.935 Xerox shares for each ACS share they own. Xerox will also assume ACS's $2 billion debt and issue $300 million of convertible preferred stock to ACS's Class B shareholder. The transaction has been approved by both boards of directors and the ACS special committee. ACS will operate as an independent organization and will initially be branded ACS, a Xerox Company.
The Simpson Thacher team includes: Mario Ponce, Elizabeth Cooper, Kelly Jin and Jean Park (M&A); Marissa Wesely and Wendy Wu (Credit); Vince Pagano, Roxane Reardon and Justus Morris (Capital Markets); Brian Robbins, Beth Understahl and Jennifer Pepin (Executive Compensation and Employee Benefits); Steve Todrys and Jason Vollbracht (Tax); Pete Kazanoff, Brijesh Dave, Meredith Duffy and Gabriel Rottman (Litigation); Krista McManus and Davis Coen (Real Estate); Adeeb Fadil and Noreen Lavan (Environmental); Lori Lesser and Katherine Sholly (Intellectual Property); and Joe Tringali, David Vann, Ketan Jhaveri and Ellen Frye (Antitrust).