After Wednesday’s better than expected results for the third quarter, Xerox has said it will intensify its restructuring activities in the coming months. Chief financial officer Lawrence Zimmerman said that at the end of the last quarter the group had a worldwide cash balance of $2.3 billion. There are plans to file a shelf offering with the SEC that would allow it to raise up to $3 billion in debt and equity, although there are said to be no immediate plans to tap the capital markets.
Former senior executives at the company are still being questioned about alleged accounting fraud.
25-Oct-2002
