Xerox Moves to Buy Global Imaging Systems

Xerox Corp., through its wholly owned subsidiary RG Acquisition I Corp., started a cash tender offer to purchase all outstanding common stock shares of Tampa, Fla.-based Global Imaging Systems, for $29 per share. The deal is worth about $1.5 billion.

The offer represented a 49 percent premium over Global Imaging System’s closing stock price the previous week. Following the purchase of shares in the tender offer, Global Imaging will become a subsidiary of Xerox.