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Tagged: Darwin Deason

Fuji Xerox / News / Xerox

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Icahn, Deason, Accuse Fujifilm, Xerox CEO of Deceiving Xerox Board

In the letter, the two investors, who together hold approximately 15 percent of Xerox shares, state that “Both the substance of the proposed value-destroying transaction and the conflict-tainted process by which it was hatched are an insult to long-suffering Xerox shareholders and make a mockery of well-established corporate governance norms.”

Legal Proceedings / Mergers & Acquisitions / News / Xerox

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Deason Alleges Xerox CEO Disregarded Board in Pursuing Fujifilm Deal

The battle between Xerox and activist investors Carl Icahn and Darwin Deason has become even more acrimonious, with new amendments to a Deason lawsuit alleging that Xerox CEO Jeff Jacobson pursued a deal with Fujifilm even after Xerox’s board advised him to stop negotiations.

Featured Posts / Fuji Xerox / Mergers & Acquisitions / Xerox

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Refuting Icahn, Deason, New Xerox Shareholder Letter Lays Out Benefits of Proposed Merger with Fuji Xerox

Specifically, the revenue and cost synergies identified through this combination include developing a more complete and competitive product portfolio, with enhanced offerings in areas where Xerox is currently underpenetrated such as high-speed inkjet and low-end A3;

Executive Management / Featured Posts / Legal Proceedings / News

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Deason Sues to Replace Xerox Board; New Joint Deason-Icahn Letter

“Hope is not a strategy. We cannot just hope for multiple expansion. We cannot just hope for synergies. We cannot just hope that the massive Fuji Xerox accounting scandal will not result in substantial additional liabilities for Xerox. We cannot just hope that Fuji that will treat us fairly once they are in control of our company.”

Executive Management / News / Xerox

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Xerox Tells Deason: Forget Nominating Any Board Members

Deason, along with billionaire activist investor Carl Icahn, have sought to derail Xerox’s proposed merger with Fuji Xerox, with Fujifilm of Japan having a controlling 50.1 percent of shares, with current Xerox CEO Jeff Jacobson serving as president of the new company. Xerox shareholders will vote on the proposed merger at an upcoming shareholder meeting in May 2018.

Mergers & Acquisitions / News / Xerox

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Seeking to Derail Xerox Merger, Deason Demands to Nominate New Directors to Xerox Board

Fuji Xerox is Xerox and Fujifilm’s five-decade-old joint copier/MFP venture that focuses on the Asia-Pacific region, which Icahn and Deason argue has a previously undisclosed “crown jewel” lock-up right that gives Fujifilm control over Xerox’s intellectual property and manufacturing rights in the Asia-Pacific market if Xerox sells a 30-percent stake to another suitor, according to Deason’s lawsuit.