As we reported previously this week, in a separate lawsuit filed this week, Fujifilm also filed a breach-of-contract lawsuit against Xerox, demanding $1 billion in damages.
Tagged: Fuji Xerox
This Week in Imaging: What Does Fujifilm’s Lawsuit Mean for Xerox? Plus, U.S. China Tariff Effects; More
Fujifilm’s filing of a $1 billion breach-of-contact lawsuit this week in federal court against Xerox for scrapping the $6.1 billion...
An abnormal phenomenon was noticed in the past quarter, showing that laser-based MFPs declined more and recovered slower than single-function laser-based printers(SFPs).
The Xerox-Fujifilm saga continues to roll on, with Bloomberg reporting that today in the U.S. District Court in Manhattan, Fujifilm of...
The appointment is said to be customary, since Fuji Xerox is a joint venture between Xerox and Fujiflm, but the appointment of Icahn-backed Visentin to the board can’t be welcomed by Fujifilm, which saw it’s hopes of obtaining Xerox and merging it with Fuji Xerox dashed by Icahn and fellow investor Darwin Deason.
Fujifilm has said that taking control of Xerox “is the only option for the American company to have a future,” and has emphasized that it’s waiting for Xerox to come up with a new offer.
Komori said Fujifilm is “not opposed to considering any new proposal from the new Xerox board if it’s beneficial for both firms,” but that the $40 per share sought by Icahn and Deason is “too high.”
Visentin assures employees that Xerox will continue “to run the business well” and support its thousands of customers.
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.
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.
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.”
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
Robert J. Keegan, Charles Prince, Ann N. Reese, William Curt Hunter, and Stephen H. Rusckowski each resigned from the Xerox Board of Directors.
Amid all the back-and-forth on the proposed Xerox-Fujifilm deal between the Xerox Board of Directors and Carl Icahn and Darwin...