Tag: Fuji Xerox

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

May 2, 2018May 2, 2018 GaryPageau Carl Icahn, Darwin Deason, Fuji Xerox, Xerox1 Comment

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

News

Fuji Xerox merger talks reopened

April 30, 2018 GaryPageau Fuji Xerox

Reuters reports Xerox Corp chairman Robert Keegan told a New York state court Xerox and Fujifilm Holdings Corp. have reopened negotiations about their $6.1 billion agreement to merge the Japanese Fuji Xerox business with Xerox, into a new worldwide Fuji Xerox entity. The merger has faced opposition from activist shareholders Carl Icahn and Darwin Deason, who say the selling price... Read More

News

Activist shareholder alleges Xerox CEO sought unauthorized Fujifilm merger

April 16, 2018April 16, 2018 GaryPageau Eastman Kodak Co., Fuji Xerox, Fujifilm, Xerox

Activist shareholder Darwin Deason has filed a lawsuit alleging Xerox CEO Jeff Jacobson disregarded board directives to pursue the merger of Xerox with Fuji Xerox, according to Reuters. In January, Fujifilm Holdings and Xerox inked a $6.1 billion deal to combine the U.S. company into their existing joint venture, Fuji Xerox, but the announcement met with resistance from Deason and Carl... Read More

News Press releases

Xerox reinforces significant benefits of its proposed combination with Fuji Xerox

March 7, 2018 GaryPageau Fuji Xerox, Xerox

MAR 07, 2018 — CORPORATE NORWALK, Conn. — The Board of Directors (the “Board”) of Xerox (NYSE: XRX) today issued the following letter to Xerox shareholders, reinforcing its belief in the significant benefits of the Company’s proposed combination with Fuji Xerox: *** Dear Xerox Shareholders, On January 31, 2018, Xerox announced its plans to combine with Fuji Xerox – the joint... Read More

News

Deason, Icahn at odds with Fuji Xerox merger

February 16, 2018 GaryPageau Carl Icahn, Darwin Deason, Fuji, Fuji Xerox, Xerox

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

Opinion

Opinion: Xerox acquisition positions Fuji Xerox for not just survival, but growth

February 7, 2018February 25, 2018 GaryPageau Canon, Fuji Xerox, HP, Keypoint Intelligence, Moody's Investors' Services, Ricoh, Shigetaka Komori, Xerox

The merger announcement between Xerox and Fuji Xerox last week started the next chapter of the nearly six decades-long joint venture between U.S.-based Xerox and Japan’s Fujifilm. The merger had been long expected, and had been accelerated with the insistence of shareholder activists Carl Icahn and Darwin Deason. The combination is expected to improve the profitability and competitiveness of Fuji... Read More

News Press releases

FUJIFILM Holdings and Xerox Announce Agreement to Combine Fuji Xerox Joint Venture with Xerox

January 31, 2018January 31, 2018 GaryPageau Fuji Xerox, Fujifilm, Xerox

Creates a Global Leader in Innovative Print Technologies and Intelligent Work Solutions NORWALK, Conn. and TOKYO — Xerox shareholders to receive a $2.5 billion special cash dividend, or approximately $9.80 per share, and 49.9% of the combined company; Fujifilm to own 50.1% Combined company to deliver at least $1.7 billion in total cost savings, with $1.2 billion to be achieved... Read More