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

GaryPageau , ,

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.

He also said if the new Xerox board makes new proposals, the Japanese company “would consider them only when they benefit Fujifilm shareholders”.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.