Xerox kills deal with Fujifilm, inks new agreement with Icahn & Deason
Date: 2018-05-14   Author: Saipriya Iyer  Category: #news

Xerox kills deal with Fujifilm, inks new agreement with Icahn & Deason

Xerox, the iconic American global photocopier corporation, has made it clear in its most recent official statement, that it would terminate its iconic 6.1-billion-dollar deal with the Japanese company Fujifilm. Instead, the American conglomerate seems to have signed on a new agreement between Xerox and its activist investors Carl Icahn and Darwin Deason. If reports are to be relied on, these activists had vehemently opposed the Fujifilm merger deal from the very beginning.

Sources categorically claimed that Icahn and Deason, two of the billionaire investors, who together own approximately 15 percent of the Xerox Corp, have parted ways with Xerox CEO Jeff Jacobson - the main architect of the Xerox-Fujifilm deal.  In fact, they have asked the CEO and few of the other boards to step down from the company due to the severe undervaluation of the US Company in this deal.

As per the earlier plan brainstormed in the month of January, the two companies were supposed to merge the operation of Xerox into Fuji Xerox, the joint venture firm formed with 50.1 percent stake of Fujifilm and rest from Xerox Corp.

Before cancelling the deal, the Xerox Board in the recent past repeatedly asked Fujifilm to improve the terms and conditions of the deal but failed to receive any assurance from the Japanese company, cite sources. Experts’ believe that in a bid to save the interest of the shareholders and the overall company, the board may have taken the decision of revoking the merger deal with Fujifilm.

Reportedly, Deason and Icahn’s case received support through a court decision made in April, which temporarily had blocked the deal with Fujifilm. The Japanese company, however, is not ready to accept Xerox’s "unilateral decision". In fact, as per its official statement, Fujifilm doesn’t even think that Xerox has any such legal right to cancel the deal.



About Author


Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

More from Saipriya


Post Recommendents

Cathodic Electrocoating Market Growth Projection from 2020 to 2025
Author: Ashwin Naphade

A collective analysis on ' Cathodic Electrocoating market' is covered in this new research, available at Market Study Report, LLC, that offers an exhaustive study based on current trends influencing this vertical throughout assorted geogra...


Acrylic Electrocoating Market Report, Growth Forecast, Industry statistics Till 2025
Author: Ashwin Naphade

A concise assortment of data on ' Acrylic Electrocoating market' is covered in a newly published research added to the repository of Market Study Report, LLC. It offers an exhaustive study targeting current market trends influencing the bu...


AIM Software Market Emerging Trends, Strong Application Scope, Size, Status, Analysis and Forecast to 2025
Author: Ashwin Naphade

A detailed research on ' AIM Software market' recently added by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information perta...