Sure would like to know why xerox spent millions to buy GIS(a growing/profitable Co.) Only to gut it and turn it into an expense .
Seems like a total waste/bad business decision...
No wonder stock is hovering $1.70
Lexmark next?
4 replies (most recent on top)
The board and leadership excel in capital destruction, and it doesn't matter who they are, but some are much better at it than others. In 2007 Xerox paid $1.5B for GIS which was about equal to their market capitalization. GIS leadership cashed in and no one else was competing to outbid Xerox. In 2010 They paid $6.4B for ACS whose market cap was $4.4B. Conduent (most of ACS) was spun out in 2017 and today its market cap is $220M. They paid $925M for Tektronix print division in 2000 and the phaser solid ink line is dead. Today Xerox market capitalization is $226M.
LEXOXBS
Don’t kid yourselves. Global had plenty of issues. Lots of people who were playing the system and not honest.
Not backing Xerox but no fan of Global either.
Gut Lexmark. Great idea