Thursday, May 24, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Qualcomm Snapdragon 710 Mobile Platform Brings Artificial Intelligence Features to a New Tier of Smartphones
Intel Nervana NNP-L1000 Neural Network Processor Coming in 2019
Uber Ends Arizona Self-driving Program
Apple to Offer $50 Rebates for iPhone Battery Swaps
Qualcomm Snapdragon XR1 SoC to be Dedicated to VR and AR Headsets
Next@Acer: Acer Debuts Premium Chromebooks, Gaming Desktops and Notebooks
LG Display and Google Develop an 18 megapixel 4.3-inch 1443 ppi 120 Hz OLED display for VR
IBM Crypto-Anchor Verifier, an AI-enabled Scanner for Visual Clues that Prove an Item's Authenticity
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Xerox T...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, May 14, 2018
Xerox Terminates $6.1 Billion Transaction Agreement with Fujifilm


Xerox Corp. scapred a $6.1 billion takeover by Fujifilm Holdings Corp. and parted ways with its chief executive officer, handing a major victory to activist investors Carl Icahn and Darwin Deason.

Xerox said it has reached an agreement with Carl Icahn and Darwin Deason, two activist investors opposed to the Fujifilm deal. Xerox is now overhauling its board by removing six of its 10 board members and appointing five new ones.

Xerox said it has reached an agreement with Carl Icahn and Darwin Deason, two activist investors opposed to the Fujifilm deal. Xerox is now overhauling its board by removing six of its 10 board members and appointing five new ones.

The U.S. office equipment supplier said CEO Jeff Jacobson will step down along with several other board members. John Visentin is expected to take over as CEO while Keith Cozza, the CEO of Icahn Enterprises, will become chairman.

The new board plans to meet immediately and begin a process to evaluate all strategic alternatives to maximize shareholder value, Xerox said.

The U.S. company said it made the decision after Fujifilm failed to deliver audited financials, which it said has limited its ability to consummate the transaction.

"We are extremely pleased that Xerox finally terminated the ill-advised scheme to cede control of the company to Fujifilm. With that behind us and new shareholder-focused leadership in place, today marks a new beginning for Xerox. We have often said that the most important person at a company (by far) is the CEO. We are therefore also pleased that John Visentin, a tried and true veteran in this area, will be taking the helm," said Carl Icahn.

The January deal called for Xerox to give Fujifilm a 50.1% stake in exchange for full ownership of their 56-year-old U.S.-Japanese joint venture, Fuji Xerox. Xerox shareholders were also offered a special cash dividend worth $2.5 billion.

Fujifilm had said last week it intended to resume discussions with Xerox on a potential combination on "superior terms," but it hadn't received a new proposal from the U.S. company. Fujifilm has also said it was appealing a U.S. court injunction blocking the takeover.



Previous
Next
Intel Briefs Upcoming Z390 Chipset        All News        Sony SPRESENSE IoT Boards Come With Multi-core CPU and GNSS Receiver Onboard
Vulnerability Exposes PGP Encrypted Email     General Computing News      Sony SPRESENSE IoT Boards Come With Multi-core CPU and GNSS Receiver Onboard

Get RSS feed Easy Print E-Mail this Message

Related News
Fujifilm Releases First Square Format Analog Instax Camera
Xerox to Resume Take Over Talks With Fujifilm
Fuji Xerox and Xerox to Combine to Become a New Fuji Xerox
FujiFilm Says Tape May Blow Away HDDs
Fujifilm X-T20 Features New 24MP Sensor and 4K Video Capture
U.S. To Investigate Whether Fujifilm Violated Sony Magnetic Tape Patents
Fujifilm Develops New Medium Format GFX Mirorless Camera
Fujifilm X-T2 Mirrorless Camera Offers New Autofocus System And 4K Video Shooting
Fujifilm Unveils Three New Retro Cameras
Fujifilm Launches The instax mini 70 Instant Camera
Fujifilm and imec Demonstrate Full-color Organic light-emitting diodes With photoresist technology for organic semiconductors
Motorola Mobility To Pay $10 million in Fujifilm Patent Suit

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .