Business Highlights

Xerox in $6B deal to expand tech services business

NEW YORK (AP) — Xerox Corp. said Monday it will buy Affiliated Computer Services Inc. for about $6.4 billion in cash and stock, joining the expensive race among technology companies to broaden their offerings.

Xerox said the deal will create a $22 billion business that combines Xerox's copiers, printers and document management services with the "business process outsourcing" of Dallas-based ACS. Outsourcers like ACS take on tasks for other companies, such as helping to manage payroll or run health care plans.

With the drop in Xerox's share price, the deal was worth roughly $5.7 billion.

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Abbott buys Solvay pharma operations for $6.6B

NEW YORK (AP) — Abbott Laboratories on Monday said it would pay $6.6 billion for the pharmaceutical business of Belgian chemicals maker Solvay in a move to further expand internationally and add to its product portfolio.