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Featured Posts / HP / News / Xerox
Carl Icahn, who was largely responsible for the derailment of last year’s proposed Xerox-Fuji Xerox merger, has disclosed that he now owns a 4.2 percent in HP Inc., which is worth approximately $1.2 billion.
Xerox stated that its Project Own It cost-cutting program contributed some $640 million of savings thus far in 2019.
Last week, we discussed the United States’ latest imposition of tariffs on Chinese-made goods imported into the United States. This...
Industry trade group, Recycling Times Media, which is based in China and represents the “remanufactured” toner-cartridge industry, continues to illegally post entire articles from Wirth Consulting without permission.
Last week, we explained how, in our opinion, it’s a good bet that HP Inc. will purchase Xerox. While...
The Xerox-Fujifilm saga continues to roll on, with Bloomberg reporting that today in the U.S. District Court in Manhattan, Fujifilm of...
“Fujifilm disputes Xerox’s unilateral decision to terminate the transaction,” the company said in its statement.
Featured Posts / Fuji Xerox / News / Xerox
Robert J. Keegan, Charles Prince, Ann N. Reese, William Curt Hunter, and Stephen H. Rusckowski each resigned from the Xerox Board of Directors.
Icahn and Deason claim they have been “approached by pretty much every major financial sponsor, and they have all expressed interest in Xerox.”
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.”
Xerox had asked that its appeal be heard quickly, “concerned that a delay might endanger the proposed deal.”
Featured Posts / Fuji Xerox / News / Xerox
“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.
“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.”
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.”
“The brazen self-interest of the Xerox Board defies description,” stated Carl Icahn, who blamed the Xerox board for letting the deal expire.
Fujifilm will review its plan to purchase Xerox for $6.1 billion, but also is said to have expressed serious concerns over the new developments.
