Xerox Backs Out of Fujifilm Merger

Xerox is ending an agreement to combine with Fujifilm and is entering a settlement deal with investors Carl Icahn and Darwin Deason. The two companies had announced earlier this year that Fuji Xerox would combine with Xerox, with Fujifilm Holdings taking a 50.1 percent stake in the newly formed company. The deal was meant to be part of a restructuring that would save the companies an estimated $1.7 billion a year by 2022. Fujifilm said  Xerox has no right to withdraw from the agreement and urged the company to hold a shareholders’ meeting. It was considering legal action seeking damages.


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