UPDATE 1-Major shareholder demands Xerox disclose JV agreement with Fuji [Reuters]
FUJIFILM HLDGS CORP ADR (FUJIY)
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Source: Reuters
UPDATE 1-Major shareholder demands Xerox disclose JV agreement with Fuji | Reuters Reuters Staff 2 Min Read (Adds details from the letter, background, shares) Jan 17 (Reuters) - Major Xerox Corp shareholder Darwin Deason has urged the photocopier pioneer to make public its joint venture agreement with Japan’s Fujifilm Holdings Corp , saying U.S. securities laws require it should do so. Xerox and Fujifilm have a five-decade-old copier joint venture focusing on the Asia Pacific region including Japan and China, leaving Xerox to cover the rest of the world. Shares of Xerox were down 1.2 percent in late trading on Wednesday. Deason asked the company’s board in a letter dated Jan. 17 to hire new and independent advisers to evaluate the photocopier company’s strategic options with Fuji. Deason said the options “including the potential termination of what I suspect but am unable to yet confirm is a one-sided value destroying agreement disfavoring Xerox”. The third-largest shareholder of Xero
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