(ACS) Affiliated Computer Services / Xerox Merger Approved

Affiliated Computer Services Inc. (ACS), a leading business process outsourcing firm rose 0.45% after hours Friday, after falling 2.28% to close at $59.64 following the company’s announcement that shareholders had approved its acquisition by Xerox Corporation (XRX). XRX shares are down slightly in early trading Monday. The transaction is expected to close soon and as a result, Standard & Poor’s announced changes to its index. S&P MidCap 400 constituent Urban Outfitters Inc. (URBN) will replace ACS in the S&P 500 index. In September, Xerox agreed to acquire Affiliated in a cash and stock transaction valued at $6.4 billion ($63.11 per ACS share in cash and Xerox stock as of the closing price of Xerox on September 25). Affiliated shareholders would receive $18.60 per share in cash and 4.935 shares of Xerox. Xerox would also assume