The Recycler
  • Katun web banner December 2022 NEW
  • Biuromax Masthead web banner March 2024
  • G&G Feb 24 Masthead Banner

Fujifilm forced to abandon Xerox plans?

June 8, 2018

(Copyright: www.reseller.co.nz)

The Japanese company has revealed that it may have to forget its plans to merge with Xerox if no progress is made in 6 months.

According to Reuters, Fujifilm could entirely scrap merger talks, following Xerox’s decision to make a settlement with shareholders Carl Icahn and Darwin Deason.

“I don’t have a specific deadline in mind, but it should normally be from several months to six months. If we have nothing by then, it can’t be helped,” said Chief Executive Shigetaka Komori.

The two OEMs had planned to enter a $6.1 billion (€5.1 billion) merger which would result in Xerox merging with Fuji Xerox, which Fujifilm would then “control with a 50.1 percent stake.”

According to Komori, Fuji Xerox, which is mostly owned by Fujifilm, “can grow on its own” but Xerox is dependent on Fuji Xerox for copier machine production. The current joint venture agreement existing between the two companies sees Fuji Xerox focusing on the Asian Pacific region, while Xerox “covers the rest”. This agreement is set to expire in March 2021.

Icahn and Deason have indicated that “they would consider an all-cash bid of at least $40 (€34) share, which Komori states is “too high”, adding that a typical buy-out deal of 30 percent “would not be possible in this case”.

“We could procure funds, but many shareholders are demanding that money should be used on healthcare businesses,” he said.

Categories : Around the Industry

Tags : Business Fuji Xerox Fujifilm Merger USA Xerox

  • Ink Tank April 2024 Web Ads
  • Static Control June 2022 Big & Bold Ad
  • G&G Big & Bold Web banner January 2024
  • Biuromax March 2024 Banner
  • Apex Web Ad March 2024
  • GM Technology Web Ad March 2024
  • IR Italiana Web ad January 2021
  • Cartridge Web April 2024 Web Banner
  • Mito Web advert July 2023
  • TN Core April 2024 Web Banner
  • CET Web ad December 2023
  • Zhono Web ad March 2024
  • Denner Feb 2024 Web Ad
  • ITP Web ad January 2021
  • PCL April 2024 Web Banner
  • HYB Web banner Jan 2024
  • Altkin Web ad March 2024
  • CET Web ad December 2023
  • HYB Web banner Jan 2024
  • Denner Feb 2024 Web Ad
  • PCL April 2024 Web Banner
  • ITP Web ad January 2021
  • Zhono Web ad March 2024
  • Altkin Web ad March 2024
  • PCL April 2024 Web Banner
  • CET Web ad December 2023
  • Zhono Web ad March 2024
  • ITP Web ad January 2021
  • Altkin Web ad March 2024
  • Denner Feb 2024 Web Ad
  • HYB Web banner Jan 2024

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2023 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark

The Recycler Subscribe Web ad January 2021
The Recycler Subscribe Web ad January 2021