Darwin Dison is the American businessman and the political figure. Founded outsourcing IT company Affiliated Computer Services which was sold afterwards by Xerox for $6.4 billion. The The Wall Street Journal newspaper in October, 2016 called Dison the largest individual shareholder of Xerox from shares in 6.1%.
2016: Claim to Xerox
On October 13, 2016 it became known that the largest shareholder of Xerox took legal action, trying to block separation of the company which, according to the investor, incorrectly distributes his investments.
A claim to District court in Dallas was submitted by the billionaire Darwin Deason who founded outsourcing company Affiliated Computer Services (ACS) which Xerox purchased in 2010 for $6.4 billion. According to the results of that transaction the businessman received about $300 million in the form of preferred convertible shares of Xerox.
Until the end of 2016 Xerox will be separated into two public companies: one of them under the name of Xerox will focus on release of the printing equipment, and another — Conduent — will be engaged in business process outsourcing. ACS will become Conduent heart, Darwin Dison claims.
According to the entrepreneur, as a result of crushing of corporation its share in it is transformed to stocks not Conduent, and "unattractive and slaborastushchy" by Xerox. It violates terms of the contract about sale of ACS according to which preferred shares had to compensate a majority share of Dison in ACS and "guarantee further investment into the integrated business of the company, attractive to investments", according to the lawsuit.
The didream says that within several months he conducted negotiations with the management of Xerox, trying to save the investments, however dialog was unsuccessful: the company refused flatly to convert stocks of Xerox into securities of Conduent.
In Xerox is considered by the shareholder's arguments unreasonable and intend to uphold the position in court. Also added to the companies that process of separation is going to be completed in the terms specified earlier — until the end of 2016.
On October 1, 2016 Darwin Dison sent Board of Directors of Xerox the letter with a request to include it in board of both new companies.[1]
Notes
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |