Fujifilm sues Xerox for well over $1 billion after aborted merger
Fujifilm Holdings Corp sued Xerox Corp on Monday for well over $1 billion (£755.2 million), faulting the printer and copier company for succumbing to pressure from activist investors Carl Icahn and Darwin Deason in calling off a proposed merger. In a complaint filed with the U.S. District Court in Manhattan, Fujifilm accused Xerox of breach of contract and engaging in “intentional and egregious conduct” in abandoning the $6.1 billion merger announced in January. Icahn, the billionaire, and Deason together owned 15 percent of Xerox shares, and said the merger undervalued the Norwalk, Connecticut-based company.
Source:: https://finance.yahoo.com/news/fujifilm-sues-xerox-over-aborted-155448788.html
