Xerox has announced its deal with Fujifilm that will give Fujifilm more than half of the combined company. According to the statement on the Xerox web site says Xerox shareholders will "receive a $2.5 billion special cash dividend, or approximately $9.80 per share, and 49.9% of the combined company; Fujifilm to own 50.1%." It combines the previous Fuji Xerox Joint Venture with Xerox. Bloomberg and Fortune are reportingFujifilm plans to cut 10,000 jobs at its Xerox joint venture. The statement says the combined company will be headquartered in both Norwalk, Connecticut and Minato, Tokyo, Japan and will "maintain the iconic 'Xerox' and 'Fuji Xerox' brands within its respective operating regions." Last week, the company announced it negotiated an early termination of its lease in downtown Rochester. Several hundred employees will be transitioned into the company’s Webster campus.
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