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Japan: Xerox terminates merger with Fujifilm over investors spat

By  |  May 14, 2018

Xerox announced Sunday, May 13, it was ending its pursuit of a merger with FujiFilm Holdings and had instead reached an agreement with its top shareholders to replace its CEO and board of directors.

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    The decision mirrors one which the company announced two weeks ago, only to reverse course on days later. Beyond the termination, the company announced Sunday it had reached a new settlement agreement with top Xerox shareholders Carl Icahn and Darwin Deason, who strongly opposed the Fujifilm merger, which would have given the Japanese technology company majority control of Xerox.

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    Xerox had been battling activist shareholder Carl Icahn and investor Darwin Deason over the company’s plan to sell itself to Fujifilm in a deal the two say dramatically undervalues the photocopying firm.

    Full Content: Reuters

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