May 18, 2018 / 7:08 AM / 3 months ago

Fujifilm says to sue Xerox soon to seek damages on scrapping of takeover

TOKYO, May 18 (Reuters) - Fujifilm Holdings Corp is planning to sue Xerox Corp soon to seek damages from the U.S. photocopier company for unilaterally scrapping their $6.1 billion takeover deal, a senior Fujifilm executive said on Friday.

"We plan to file a damages lawsuit as soon as possible," Kenji Sukeno, chief operating officer, said at an earnings briefing.

In January, Xerox and Fujifilm had agreed to a complex deal to merge Xerox into their 56-year-old Asia joint venture Fuji Xerox and give Fujifilm control.

Xerox scrapped the deal this week in a settlement with activist investors Carl Icahn and Darwin Deason, who opposed the takeover by Fujifilm saying it undervalued the U.S. company. (Reporting by Makiko Yamazaki Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below