Xerox Corp says it plans to buy Affiliated Computer Services Inc for $5.5 billion to expand from a document-management company into the outsourcing business. ACS would be the first big deal for new CEO Ursula Burns.
Taiwan says it will allow contract chipmakers and flat-panel firms to acquire rivals in China, a move analysts said will help cement TSMC and UMC’s lead in the semiconductor sector.
For more on these stories and the rest of the latest deals news from Reuters, click here.
And here’s the buzz from Tuesday’s newspapers:
* The Netherlands is looking into options to sell Fortis Bank Nederland assets to French bank BNP Paribas (BNPP.PA) to get approval for a merger of nationalised banks ABN AMRO and Fortis Bank Nederland, Dutch newspaper Het Financieele Dagblad reported.
* UBS (UBS.N) (UBSN.VX) chief executive Oswald Gruebel said the bank’s U.S. wealth management unit Paine Webber is “non-core” but the Swiss bank will not sell at present, the Financial Times quoted him as saying.