CSG shareholders green light $140m acquisition by Fuji Xerox
CSG shareholders have voted in 232 to 29 in favour of Fuji Xerox’s proposal to buy the technology services supplier that is focused on managed print and print solutions.
“CSG Limited is pleased to advise that the scheme resolution has been passed by shareholders at the meeting held today,” the company said in a brief statement to the ASX.
In October 2019, Fuji Xerox announced its intention to acquire CSG, the $218 million business technology services supplier, who currently has partnerships with Canon and HP. CSG did once offer Fuji Xerox printers and systems and was chaired by former FXA managing director Phil Chambers when it floated in 2007.
CSG began restructuring the company in 2012 by selling off divisions and is now focused on managed print and print solutions.
The board’s directors unanimously recommended that shareholders voted in favour of the proposal.
CSG will now apply for Federal Court approval on Wednesday, 5 February. The deal is scheduled to become effective on 19 February.
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