UPDATE 3-Japan's Fujifilm to take over Xerox in $6.1 bln deal, create JV [Reuters]
Xerox Holdings Corporation (XRX)
Last xerox holdings corporation earnings: 4/28 06:30 am
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Source: Reuters
UPDATE 3-Japan's Fujifilm to take over Xerox in $6.1 bln deal, create JV | Reuters Reuters Staff 5 Min Read * Fujifilm to own 50.1 percent of shares in combined company * Xerox to be combined into Fuji Xerox * Combined company to deliver cost savings, $1.5 bln by 2022 * Fujifilm says to slash 10,000 jobs at Fuji Xerox (Recasts with announced deal, adds quotes, details) By Naomi Tajitsu and Ritsuko Ando Jan 31 (Reuters) - Japan’s Fujifilm Holdings is set to take over Xerox Corp in a $6.1 billion deal, combining the U.S. company into their existing joint venture to gain scale and cut costs amid declining demand for office printing. The acquisition announced on Wednesday comes as Xerox has been under pressure to find new sources of growth as it struggles to reinvent its legacy business amid waning demand for office printing. Fujifilm is also trying to streamline its copier business with a larger focus on document solutions services. Consolidation of R&D, procurement and other operations
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