Tagged: FujiFilm

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.”

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.

Deason, Icahn, Urge Xerox Partnership with HP, Apple, Others, Monetization of IP

On April 17th, activist investors Carl Icahn and Darwin Deason, seeking to stop Fujifilm’s acquisition of Xerox for $6.1 billion and the creation of a new combined Xerox-Fuji Xerox, released a detailed presentation, Rescuing and Revitalizing an American Icon, that presents alternatives to the proposed deal.

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.”

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.