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Conduent to Trade on NYSE Following Separation from Xerox

Xerox to continue to trade on NYSE after separation.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Following the separation of Xerox into two companies, Conduent Incorporated, the new business process services company, will trade on the New York Stock Exchange (NYSE) under the symbol CNDT. Xerox will continue to trade on the NYSE as XRX.
 
“Our separation into Xerox and Conduent will create two independent, Fortune 500-scale, publicly traded companies with distinct and compelling investment propositions and differentiated financial profiles, growth drivers and business prospects,” said Ashok Vemuri, recently appointed CEO of Conduent. “The New York Stock Exchange has long provided the premiere venue for the world’s best companies to drive shareholder value. We believe this is the best exchange for each of these industry leaders to build its long-term shareholder base.”
 
The company expects to complete its separation by year-end 2016. At the separation, Xerox shareholders will own all stock in both companies.
 
With approximately $7 billion in 2015 revenue and 93,000 employees worldwide, Conduent will be a Fortune 500 scale business process services company with expertise in transaction-intensive processing, analytics and automation. Conduent’s differentiated offerings touch millions of lives, including two-thirds of all insured patients in the US and more than half of all mobile phone subscribers in the US.

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