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

Xerox silence dashes deal again

August 2, 2018

A general meeting of the OEM’s stakeholders failed to result in voices in favour of Fujifilm’s acquisition, leaving the controversial merger hanging in the balance.

Fujilfilm’s hopes at resurrecting the deal now rest on appealing the injunction issued by a US court earlier this year, barring it from taking place, according to Nikkei Asian Review. Hearings will begin in September.

The injunction was issued as the result of a bitter campaign by major stakeholders Carl Icahn and Darwin Deason to prevent the deal, claiming that it devalued the American OEM. Their efforts resulted in the Supreme Court’s freezing of proceedings, and the replacement of the company’s CEO.

Nikkei Asian Review reports that “the deal was not mentioned in any of the proposals put forward on Tuesday. The sole shareholder who spoke up mentioned the acquisition, but confined his comments to issues like corporate governance and the disappointing performance of Xerox stock.”

Shares in Xerox have fallen by around 20 percent since April.

Fujifilm will now be required to appeal the Supreme Court’s injunction, by refuting claims from Xerox that it failed to share audited financial results for Fuji Xerox “in a timely manner.”

If the injunction is lifted, “Fujifilm could seek legal measures to have Xerox stick to the contract,” although CEO Shigetaka Komori recently admitted the deal was “not indispensable” to the Japanese OEM’s future growth.

Categories : City News

Tags : Fuji Xerox Fujifilm Japan Legal OEM USA Xerox

  • Aster Feb 2024 Web Ad
  • Ink Tank Web Ad March 2024
  • Biuromax 300 x 500 Banner February 2024
  • Apex Feb Web Banner Big & Bold
  • GM Technology Web Ad March 2024
  • IR Italiana Web ad January 2021
  • Cartridge Web Ad March 2024
  • Static Control June 2022 Big & Bold Ad
  • G&G Big & Bold Web banner January 2024
  • Mito Web advert July 2023
  • Altkin Web ad March 2024
  • CET Web ad December 2023
  • Denner Feb 2024 Web Ad
  • Zhono Web ad March 2024
  • HYB Web banner Jan 2024
  • ITP Web ad January 2021
  • PCL Feb 2024 Web Ad
  • CET Web ad December 2023
  • PCL Feb 2024 Web Ad
  • ITP Web ad January 2021
  • Zhono Web ad March 2024
  • Altkin Web ad March 2024
  • Denner Feb 2024 Web Ad
  • HYB Web banner Jan 2024
  • HYB Web banner Jan 2024
  • Altkin Web ad March 2024
  • PCL Feb 2024 Web Ad
  • ITP Web ad January 2021
  • Denner Feb 2024 Web Ad
  • CET Web ad December 2023
  • Zhono Web ad March 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