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.
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.
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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI