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Fujifilm wins appeal over aborted Fuji Xerox merger: Reuters News 

Fujifilm wins appeal over aborted Fuji Xerox merger: Reuters

Reuters reports Fujifilm Holdings Corp. has won an appeal in its legal battles with Xerox Corp, with a New York court overturning preliminary injunctions requested by an activist investor that had blocked their planned merger. According to the article, the New York State Appellate Court ruling could give Fujifilm leverage to bring Xerox management back to the negotiating table. Fujifilm... Read More
Fujifilm, Xerox split appears to be permanent Opinion 

Fujifilm, Xerox split appears to be permanent

The imaging industry’s messiest breakup doesn’t look like it’s heading for a reconciliation any time soon Industry watchers and customers hoping for a resolution between the on-going conflict between Xerox Corp. and Fujifilm Holdings over the failed merger didn’t get much encouragement from the company’s top executives.  Last week, Xerox CEO John Visentin emphasized in the company’s second-quarter earnings report his desire... Read More
Xerox CEO sets direction to drive improved performance Earnings reports Press releases 

Xerox CEO sets direction to drive improved performance

Reports on second-quarter 2018 results and establishes business priorities: Drive revenue Optimize operations for simplicity to better serve clients and partners Re-energize the innovation engine Focus on cash flow and increase capital returns July 26, 2018 06:30 AM Eastern Daylight Time NORWALK, Conn.–(BUSINESS WIRE)–Xerox (NYSE: XRX) Vice Chairman and CEO John Visentin today outlined his business imperatives to transform the... Read More
Kerfuffle escalation: Fujifilm, Xerox take steps to separate further, brace for competition News 

Kerfuffle escalation: Fujifilm, Xerox take steps to separate further, brace for competition

The divide between Fujifilm Holdings and Xerox Corp. over their failed merger is growing larger and more contentious, as both companies issued statements ramping up the rhetoric. On June 25th, Xerox vice chairman and CEO John Visentin responded to Fujifilm’s filing of a $1 billion lawsuit with an open letter to Fujifilm Chairman and CEO Shigetaka Komori, blaming Fujifilm’s accounting practices for scuttling... Read More
Xerox responds to Fujifilm lawsuit News Press releases 

Xerox responds to Fujifilm lawsuit

NORWALK, Conn. —  Xerox Vice Chairman and CEO John Visentin today sent a letter to Fujifilm Chairman Shigetaka Komori responding to the lawsuit filed by Fujifilm last week. “Fujifilm should realize that the internal accounting issues at Fuji Xerox were a result of their mismanagement, which made it impossible to close the announced transaction” said Visentin. “We cannot stand by... Read More
Xerox Names Steve Bandrowczak President and Chief Operations Officer People on the Move Press releases 

Xerox Names Steve Bandrowczak President and Chief Operations Officer

NORWALK, Conn.–(BUSINESS WIRE)--Xerox announced today the appointment of Steve Bandrowczak as president and chief operations officer, and a member of the company’s Executive Committee, effective June 25, 2018. Bandrowczak will be responsible for developing and executing a global operations strategy in the company’s business support functions, including product and service delivery, customer billing, information technology, global procurement and real estate.... Read More
Bloomberg: Judge rejects Fujifilm bid to dissolve Fuji Xerox deal injunction News 

Bloomberg: Judge rejects Fujifilm bid to dissolve Fuji Xerox deal injunction

Bloomberg reported Fujifilm Holdings Corp. failed to persuade a Manhattan state judge to dissolve an order barring its planned merger with Xerox Corp., cutting off a possible option for keeping the deal alive. The company has claimed in a separate lawsuit it will suffer $1 billion in damages if it can’t cement the $6.1 billion takeover, which was thwarted by... Read More
Jilted Fujifilm seeking $1 billion in damages from failed merger News 

Jilted Fujifilm seeking $1 billion in damages from failed merger

CNN Money reports Japan’s Fujifilm Holdings Corp. is seeking more than $1 billion in damages from Xerox in district court in New York, over the failed Fuji Xerox merger. The amount is significantly higher than the $183 million termination fee built in to the deal. Fujifilm filed the following notice: Notice of Filing a Suit for Damages against Xerox Corporation FUJIFILM... Read More
Not so fast: Fujifilm looking to sue Xerox for deal cancellation News 

Not so fast: Fujifilm looking to sue Xerox for deal cancellation

At an earnings briefing last week, Fujifilm Holdings Corp. Chief Operating Officer Kenji Sukeno said the spurned company will seek legal remedies after Xerox Corp. pulled out of the proposed merger with Fujifilm subsidiary, Fuji Xerox. Reuters reports Sukeno said Xerox has no legal right to unilaterally terminate the deal and that the deal is in the best interests of Xerox shareholders.... Read More
Xerox announces John Visentin as new CEO People on the Move Press releases 

Xerox announces John Visentin as new CEO

John Visentin appointed Vice Chairman and Chief Executive Officer Annual Meeting of Shareholders to be held on July 31, 2018 MAY 16, 2018 — CORPORATE – NORWALK, Conn. —  Xerox (NYSE: XRX) today announced that its Board of Directors has appointed John Visentin as chief executive officer. Visentin was also elected vice chairman of the Board of Directors. Keith Cozza was... Read More
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 launches Iridesse four-color production press with specialty inks News 

Xerox launches Iridesse four-color production press with specialty inks

Meet the all-new Xerox Iridesse Production Press — a six station press that combines four-color printing with two specialty dry inks in a single printing pass. NORWALK, Conn.–(BUSINESS WIRE)–The company that invented the copier, laser printing and print-on-demand is announcing another first in the world of print – a high speed, six station color press that combines four-color printing with... 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 reports first-quarter 2018 results Earnings reports Press releases 

Xerox reports first-quarter 2018 results

  \ First Quarter 2018 Highlights Strong start to operating cash flow, at $216 million in the quarter Continued revenue growth in managed document services and Global Imaging Systems operations Adjusted operating margin of 10.4 percent, down 0.6 points year-over-year; operating margin, excluding equity income, up 0.5 points Core operating profit, excluding equity income, grew 5 percent year-over-year NORWALK, Conn.–(BUSINESS... Read More
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