Icahn, Deason urge Xerox shareholders to oppose Fujifilm deal [Reuters]
FUJIFILM HLDGS CORP ADR (FUJIY)
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Source: Reuters
Icahn, Deason urge Xerox shareholders to oppose Fujifilm deal | Reuters Reuters Staff 2 Min Read (Reuters) - Xerox Corp’s plan to sell itself to Japan’s Fujifilm Holdings has come under further pressure with Carl Icahn and Darwin Deason urging fellow shareholders to oppose the $6.1 billion deal. The activist shareholders, who own a combined 15 percent of the U.S. printer and copier maker, said the agreement dramatically undervalued Xerox and criticized the deal structure, which calls for the U.S. firm to be combined into the Fuji Xerox joint venture, as “tortured (and) convoluted”. "We urge you – our fellow shareholders – do not let Fuji steal this company from us," Icahn and Deason said in an open letter. ( bit.ly/2skuvYM ) They added there was still great opportunity for Xerox to create “enormous value for shareholders, and it does not involve selling control to Fuji without a premium”. Seeking a firmer footing amid waning demand for office printing, the two firms agreed to a deal u
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