Lawsuit Alleges Xerox Ceo Disregarded Board In Pursuing Fuji Deal Wsj

Lawsuit Alleges Xerox Ceo Disregarded Board In Pursuing Fuji Deal Wsj

- A lawsuit is alleging that Xerox Corp (XRX.N) Chief Executive Officer Jeff Jacobson pursued a deal with Fujifilm Holdings Corp (4901.T), even after

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– A lawsuit is alleging that Xerox Corp (XRX.N) Chief Executive Officer Jeff Jacobson pursued a deal with Fujifilm Holdings Corp (4901.T), even after Xerox’s board advised him to halt negotiations, the Wall Street Journal reported on Sunday.

Fujifilm and Xerox struck a $6.1 billion deal in January to combine the U.S. company into their existing joint venture, Fuji Xerox, to gain scale and cut costs as demand for office printing equipment declines.

The board advised Jacobson in November to halt negotiations because it was considering firing him, the newspaper reported, citing an amended suit filed in a New York state court on Sunday by Darwin Deason, a Xerox holder who opposes the deal, saying it undervalues the copier and printer company.

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