Print Edition - 2018-06-20  |  Money Digest

Fujifilm sues Xerox for $1b after merger fail

TOKYO

Jun 20, 2018-

Japanese technology giant Fujifilm said on Tuesday it was suing US firm Xerox, seeking more than $1 billion in damages after a merger between the two firms was scrapped last month. Fujifilm slammed what it said was a “unilateral decision to terminate without legitimate cause” the planned merger announced in January. The merger was shelved after a lawsuit by powerful shareholders Carl Icahn and Darwin Deason, who together own more than 15 percent of Xerox and had vigorously opposed the tie-up. The pair secured an injunction in April to halt the deal after a New York judge agreed the merger prioritised the interests of the Xerox CEO over the firm’s shareholders. Fujifilm also announced a challenge to that ruling. (AFP)

Published: 20-06-2018 08:23

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