Xerox abandons planned deal with Fujifilm in victory for Icahn and Deason [Reuters]
Xerox Holdings Corporation (XRX)
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Source: Reuters
Xerox abandons planned deal with Fujifilm in victory for Icahn and Deason | Reuters 3 Min Read NEW YORK/TOKYO (Reuters) - Xerox Corp ( XRX.N ) has scrapped a planned $6.1 billion deal with Fujifilm Holdings Corp ( 4901.T ) in a settlement with activist investors Carl Icahn and Darwin Deason that also hands control of the U.S. photocopier giant to new management. The victory for the billionaire investors puts the Japanese company further on the backfoot in any new negotiations with Xerox, although it is by no means out of contention as Xerox is now expected to go up for sale in an auction at a higher price. Fujifilm was quick to take a combative stance, saying in a statement it disputes Xerox’s unilateral decision to terminate the transaction and would look at all options including legal action seeking damages. The two companies agreed in January to a complex deal that would merge Xerox into their Asia joint venture Fuji Xerox. The deal prompted Icahn and Deason, who own 15 percent
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- Xerox Holdings Co. (NYSE: XRX) had its price target lowered by analysts at JPMorgan Chase & Co. from $18.00 to $17.00. They now have an "underweight" rating on the stock.MarketBeat
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- Xerox Holdings Corporation (NASDAQ:XRX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Xerox Holdings First Quarter 2024 Earnings: US$0.94 loss per share (vs US$0.43 profit in 1Q 2023) [Yahoo! Finance]Yahoo! Finance
- Xerox Holdings Co. (NYSE: XRX) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
XRX
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- 4/23/24 - Miss
XRX
Sec Filings
- 4/23/24 - Form 8-K
- 4/11/24 - Form DEF
- 4/4/24 - Form ARS
- XRX's page on the SEC website