UPDATE 1-Fujifilm set to sue Xerox soon for scrapping takeover deal [Reuters]
Xerox Holdings Corporation (XRX)
Last xerox holdings corporation earnings: 4/28 06:30 am
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Source: Reuters
Fujifilm set to sue Xerox soon for scrapping takeover deal | Reuters Reuters Staff 2 Min Read TOKYO (Reuters) - Fujifilm Holdings Corp ( 4901.T ) is planning to sue Xerox Corp ( XRX.N ) soon deeming that the U.S. photocopier company has no legal right to unilaterally scrap their $6.1 billion merger, a senior Fujifilm executive said on Friday. “We are currently in talks with lawyers on the schedule for filing the lawsuit and plan to go to court as soon as possible,” Chief Operating Officer Kenji Sukeno said at an earnings briefing. In January, Fujifilm and Xerox agreed to a complex deal to merge Xerox into their 56-year-old Asia joint venture Fuji Xerox and give Fujifilm control. Xerox pulled out of the deal this week in a settlement with activist investors Carl Icahn and Darwin Deason, who opposed the deal saying it undervalued the U.S. company. The settlement also saw Xerox Chief Executive Officer Jeff Jacobson - the deal’s main architect - as well as five other directors resign.
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XRX
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- 4/23/24 - Miss
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