This Week in Imaging: Fujifilm Better Off? Latest Xerox-Icahn News; Company Financials, More
Although Fujifilm of Japan clearly isn’t happy that Xerox has called off the merger deal, there’s a good case to......
Category: Fuji Xerox
Fujifilm to Sue Xerox over Scrapped Xerox-Fuji Xerox Merger Deal
Bloomberg also reported that Fujifilm COO Sukeno said that wants to explain to Xerox shareholders that the merger with Fuji Xerox is the only option for Xerox to grow and have a future. A combined entity would be more efficient, he said.
What’s Next for Xerox? Private Equity Sale, Competitor Sale, or Icahn Plan?
While the new Xerox board was scheduled to meet this week to discuss alternatives, Icahn’s previously published report, “Rescuing and Revitalizing an American Icon,” may provide some clues about what will happen next if Xerox isn’t sold.
Fujifilm May Pursue Legal Action Seeking Damages over Terminated Xerox Deal
“Fujifilm disputes Xerox’s unilateral decision to terminate the transaction,” the company said in its statement.
Xerox Shareholders to Take Aim at Fuji Xerox Contract Provisions for Xerox Sale
By refusing to dismiss their claims against Fujifilm, the law firm states that the Xerox shareholder lead plaintiffs aim to secure a more level playing field for all bidders of Xerox and to help ensure that “Fujifilm will not take further actions to disadvantage Xerox’s shareholders for its own benefit.”
Xerox Investor Deason Seeks Xerox Auction ASAP
Deason, however, didn’t rule out an offer from Fujifilm.
Fujifilm Responds to Xerox Decision to Call Off Proposed Deal
Under the agreement announced yesterday, Carl Icahn consultant and former Hewlett-Packard and IBM executive John Visentin will be the new vice chairman of the Xerox board and new Xerox CEO, and various Xerox board members resigned
Xerox Calls Off Deal with Fujifilm, Will Install New Leadership
Robert J. Keegan, Charles Prince, Ann N. Reese, William Curt Hunter, and Stephen H. Rusckowski each resigned from the Xerox Board of Directors.
This Week in Imaging: Xerox Shareholders Should Vote on Fujifilm Deal; Industry Financials; More
Amid all the back-and-forth on the proposed Xerox-Fujifilm deal between the Xerox Board of Directors and Carl Icahn and Darwin......
Icahn, Deason Reject Xerox Peace Offering, Denounce Leadership
Icahn and Deason claim they have been “approached by pretty much every major financial sponsor, and they have all expressed interest in Xerox.”
Xerox to Negotiate More Favorable Fujifilm Deal
In the letter, the board noted that Icahn and Deason have targeted management and the board with “personal, unsubstantiated attacks that we believe have been damaging to Xerox.”
Judge Blocks ‘Quick’ Appeal from Xerox
Xerox had asked that its appeal be heard quickly, “concerned that a delay might endanger the proposed deal.”
Deason, Icahn Post $150 Million Bond to Keep Temporary Injunction Against Fujifilm Deal
“We see several paths to victory – but none of them involve selling a 50.1% interest in Xerox in a deal that offers no control premium and leaves shareholders vulnerable to oppression by an overlord that is embroiled in an ever-widening accounting scandal,” said Icahn and Deason.
Ichan, Deason Pen Letter to Xerox Shareholders Urging End to Fujifilm Deal
“Over the next few months, we intend to see that ‘massively conflicted’ Jeff Jacobson and old guard directors like Bob Keegan, Ann Reese and Chuck Prince, who have already done so much damage to the company, and are continuing to do more damage with these actions, are held fully and personally liable for their misconduct.”
Xerox Appeals Court Decision that Blocks Xerox-Fuji Xerox Merger
The appeal also states that the decision harms Xerox shareholders by preventing them from voting on the proposed Xerox-Fuji Xerox merger that the Xerox board concluded was both “value-maximizing and the only available option.”
This Week in Imaging: What’s Next for Xerox? Plus, Ricoh, Epson, EFI Financials, More
A private-equity deal may also be in the works: on May 2nd Reuters reported that buy-out firm Appollo Global is approaching Xerox with possible acquisition in mind. Meanwhile, Fujifilm said it will appeal the court order blocking the deal.
