For its quarter ended December 31, Xerox revenues were almost flat at $2.75 billion and the company had a net loss from continuing operations of $196 million.
XRX shares opened at $32.62 on Tuesday, and after hitting a high price of $32.84, finally ended the day at $32.68.
The company expects its full-year revenue trajectory to improve, declining 2 to 4% at constant currency.
China National Nuclear Corp (CNNC), China's No. 2 nuclear power producer, will take over the country's top nuclear power plant builder to create a company worth nearly $100 billion, the latest state-orchestrated marriage in the nation's vast power sector. Analysts' estimates typically exclude special items. They established Fuji Xerox in 1962 as a 50-50 joint venture, with Fujifilm increasing its stake to 75% in 2001. As part of the deal, to be announced as soon as Wednesday, Xerox shareholders would get an implied premium for their stock and cash, the Journal said.
Fuji says it will own 50.1 percent of the combined company.
The transaction has been unanimously approved by the boards of both Fujifilm and Xerox.
The D&C adds New Fuji Xerox will use the Xerox brand in most nations and the Fuji Xerox brand in Asia and Australia.
The combined company is expected to deliver $1.7 billion in total annual cost savings by 2022, $1.2 billion of which is expected to be achieved by 2020.
Fuji Xerox is a document solutions company founded in 1962, now 75% of whose capital was invested by the Company and 25% by Xerox.
Robert J. Keegan, chairman of Xerox's Board of Directors, said, "Today's announcement follows a comprehensive review of our strategic and financial alternatives led by Xerox's independent directors that began after the separation of Conduent in 2016".