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Xerox pulls out of its Fujifilm merger plans

Xerox pulls out of its Fujifilm merger plans
[Photo: Raysonho/Wikimedia Commons]

The printer and copier giant changed its plans after it reached a settlement with two of its largest activist shareholders, Carl Icahn and Darwin Deason, reports the Wall Street Journal. The shareholders felt the merger severely undervalued Xerox. Under the settlement with the activist shareholders, new members were appointed to Xerox’s board, which then voted to sever the Fujifilm merger, which was announced in January. For its part, Fujifilm has announced it is considering legal actions against Xerox:

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“We do not believe that Xerox has a legal right to terminate our agreement and we are reviewing all of our available options, including bringing a legal action seeking damages.”

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