May 18, 2018 / 7:08 AM / a year 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)

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