Antalis, the leading European merchant for print and office paper, has made a binding offer to acquire Xerox’s (NYSE: XRX) paper and print media products business in Western Europe. Antalis is a wholly-owned subsidiary of Sequana (NYSE Euronext Paris: SEQ), a global producer and distributor of paper.
“This announcement follows the sale earlier this year of Xerox’s United States and Canadian paper business, as we continue to focus on growing business services and developing innovative document technologies,” said Herve Chauveau, managing director, Xerox Document Supplies Europe. “As a leading distributor of paper and print media supplies, Antalis is well positioned to serve our clients exceptionally well and continue delivering the same high level of quality they expect from Xerox and our brand.”
While Xerox does not manufacture paper, the company has long distributed through its brand name a broad range of coated and uncoated papers and specialty print media including business forms as well as carbonless and wide-format paper. On closing, Xerox’s paper business in Western Europe will become part of Antalis, which will hold exclusive rights for the marketing and distribution of Xerox-branded paper and print media products across the region.
This offer does not affect the manufacture, sale and support of Xerox’s broad range of consumables, such as toner and ink, and Xerox Replacement Cartridges.The transaction is expected to close early in the fourth quarter of 2013, subject to closing conditions which include obtaining necessary regulatory approval from the EU Commission as well as employee communication and consultation. Until the close, Xerox customers may order paper and media through Xerox and its resellers. After the sale closes, customers will order paper through Antalis and its trade reseller network. The following countries are included in this transaction: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV