New York judge halts Xerox, Fujifilm deal
April 28 (UPI) -- A New York State Supreme Court judge has placed a temporary hold on Xerox Corp.'s planned merger with Fujifilm.
The American global photocopying company had planned to merge with the Japanese photography company in a January deal worth more than $6 billion. Under the deal, Fujifilm would own 50.1 percent of the merged company and Xerox's Chief Executive Officer Jeff Jacobson would lead the merged company. Xerox shareholders would receive a $2.5 million cash dividend, or about $9.80 per share.
However, a judge's order late Friday night temporarily blocks that deal until final ruling in the case.
Billionaires Carl Icahn and Darwin Deason, among Xerox's biggest investors, have worked together to fight the deal, the WSJ reported, with Deason filing the suit to block the deal in February.
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