Latham & Watkins Advises on Financing for Xerox’s US$1.5 Billion Acquisition of Lexmark

Xerox Holdings Corporation (NASDAQ: XRX) has announced it has agreed to acquire Lexmark International, Inc., from Ninestar Corporation, PAG Asia Capital, and Shanghai Shouda Investment Centre in a deal valued at US$1.5 billion, inclusive of assumed liabilities. This acquisition will strengthen the Xerox core print portfolio and build a broader global print and managed print services business better suited to meet the evolving needs of clients in the hybrid workplace. The transaction is expected to close in the second half of 2025.

Latham & Watkins LLP represented the financing sources in the transaction with a banking and private capital team led by partners Marc Jaffe, Ian Schuman, Jesse Sheff, Michael Saliba, and counsel Seung-Ju Paik. Advice was also provided on banking matters by associates Katherine Page, Sharon Yin, and Amishi Magdani; on convertible debt matters by partner Greg Rodgers, with associate Ryan Gold; on capital markets matters by associates Giulia Franzoso and Emma Fichtel; and on tax matters by partner Bora Bozkurt, with associate Sam Yang.