- Xerox (NYSE:XRX) says it's exploring a possible "strategic transaction" for its customer financing business.
- Last summer, Reuters reported that XRX was considering selling its leasing unit that lends money to customers wanting to rent printers and office equipment.
- Update with more information:
- The financing unit accounts for about $3.4B of XRX's total debt of $5.2B as of the end of last year. The unit brought in about 4% of the overall $7.63B in FY18.
- The company says its plans to simplify operations will lead to at least $640M in gross savings this year and $1.5B by 2021.