Xerox Corp. is reportedly exploring a strategy to attract new acquirers that involves the sale of a unit that lends money to customers leasing printers and equipment.
According to a Reuters report that cited unnamed “people familiar with the matter,” the unit’s sale would relieve the Norwalk-headquartered company of approximately $3.6 million in debt, thus making it more attractive to potential suitors. Reuters did not specify whether the unit in question was the Xerox Finance used by Xerox Channel Partners or Xerox Capital Services used by direct sales customers. Reuters’ sources claimed that Carl Icahn and Darwin Deason, the activist shareholders that forced the cancellation of Fujifilm Holdings’ $6.1 billion acquisition of Xerox, were taking the initiative to arrange the auction of the leasing unit.
Neither Xerox nor Icahn and Deason publicly commented on the Reuters report. The buyout firm Apollo Global Management reportedly approached Xerox in May with an interest in acquiring the company, which is fighting a $1 billion lawsuit filed by Fujifilm Holdings in the aftermath of the termination of its acquisition agreement.