You are here
Reversal of fortune: Xerox scuttles Fuji Xerox merger, acquiesces to activists News Press releases 

Reversal of fortune: Xerox scuttles Fuji Xerox merger, acquiesces to activists

The board of Xerox Corp. announced yet another change in direction, this time embracing change proposed by dissident investors Carl Icahn and Darwin Deason. The company has terminated its proposed combination with Fuji Xerox, and replaced half of its board. CEO Jeff Jacobson resigned (again), after rejoining the company last week.  The new board will now investigate measures to “maximize... Read More
Xerox makes case to shareholders News Press releases 

Xerox makes case to shareholders

The Xerox board released a statement explaining its viewpoint in the recent back-and-forth with dissident shareholders seeking to scuttle the company’s proposed merger with Fuji Xerox.  NORWALK, Conn.–(BUSINESS WIRE)--Xerox (NYSE: XRX) today issued the following letter from its Board of Directors to its shareholders. To Our Fellow Shareholders, As your representatives on the Xerox Board of Directors, we have consistently... Read More
Never mind: Xerox board, management reverts back after settlement agreement expires News Press releases 

Never mind: Xerox board, management reverts back after settlement agreement expires

Less than two-days after notifying the press about Xerox’s best interest being served with a new CEO, chairman and board members, the board of Xerox Corp did an about-face Thursday night. The company said its current board members, chairman, and CEO, Jeff Jacobson, would remain after a legal settlement with activist shareholders Carl Icahn and Darwin Deason lapsed. The May 2 announcement,  which named a... Read More
Xerox reaches agreement with Carl Icahn and Darwin Deason, Xerox CEO resigns News Press releases 

Xerox reaches agreement with Carl Icahn and Darwin Deason, Xerox CEO resigns

Editor’s note: Unmentioned in the release below is the announcement Xerox CEO Jeff Jacobson resigned. According to CNBC, Jacobson and six other current Xerox board members, including Chairman Robert Keegan, are stepping down. The move also puts into doubt the proposed combination of Fuji Xerox and Xerox, which activist investors Carl Icahn and Darwin Deason oppose. As stated below, the “Board... Read More
Deason, Icahn at odds with Fuji Xerox merger News 

Deason, Icahn at odds with Fuji Xerox merger

Investors Carl Icahn and Darwin Deason are opposing the proposed merger of Fuji Xerox and Xerox, detailing in an open letter – reprinted below – their points. Also, Deason filed a lawsuit on February 13 seeking to enjoin the transaction, terminate the Xerox/Fuji joint venture lock-up and joint venture agreements and pursue strategic alternatives for Xerox. Defendants in the suit included... Read More
Carl Icahn and Darwin Deason release joint statement regarding Xerox Corporation News Press releases 

Carl Icahn and Darwin Deason release joint statement regarding Xerox Corporation

NEW YORK, NY–(Marketwired – January 22, 2018) – Today Carl Icahn and Darwin Deason released the following joint statement regarding Xerox Corporation (NYSE: XRX): We are the first and third largest shareholders of Xerox, beneficially owning collectively over 40 million shares of the company’s common stock, constituting over 15% of the outstanding shares. Because we are completely aligned regarding our... Read More
Carl Icahn questioning value of Xerox – Fuji alliance News 

Carl Icahn questioning value of Xerox – Fuji alliance

Famed activist investor Carl Icahn is scrutinizing the long-standing partnership between Xerox and Fujifilm.  Icahn, who is Xerox’s largest shareholder, has questioned capabilities of the companies management and strategy. In an open letter to Xerox shareholders, he has demanded the board be revamped and the dismissal of CEO Jeff Jacobson. “Carl Icahn says Xerox’s joint venture with Fujifilm should be revised or terminated... Read More
Skip to toolbar