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 is also suing Xerox in a separate U.S. suit seeking in excess of $1 billion, accusing it of breach of contract in abandoning the deal.
In a statement, Fujifilm said: “(The) Court’s decision will allow us to discuss with Xerox the fulfillment of the original agreement. All Xerox shareholders ought to be able to decide for themselves the operational, financial, and strategic merits of the transaction to combine Fuji Xerox and Xerox.”