14 February 2018
Xerox Shareholders try to Stop Deal
NEW YORK—
Shareholders have to vote 51% in favour of the deal
Shareholders have to vote 51% in favour of the deal. Already 13% say no.
Xerox major shareholders Carl Icahn and Darwin Deason have come out against Fujifilm's take over of Xerox. Darwin Deason has filed a lawsuit in an attempt to block the deal claiming that the deal " undervalues Xerox and disproportionately favours Fuji". He also claims a sealed lock-up deal agreed to 17 years ago would give Fujifilm control of intellectual property rights in Asia in the event of the sale of Xerox USA.
 
The investors also argue that Xerox could be sold at a higher premium in a competitive process. The two share holders have a combined stake of 13% of Xerox. 
  The deal only announced a few weeks ago would have Fujifilms partnership with Xerox in Asia rolled into an new company Fuji Xerox including all of Xerox USA. Fuji would take control with 51% of the new company. Fuji chief executive, said it would allow Fujifilm to " take control without spending a penny".
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