Carl Icahn and Darwin Deason are trying to stop the Xerox Fujifilm deal

FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York, U.S. on February 11, 2014.    REUTERS/Brendan McDermid/File PhotoThomson Reuters

  • Xerox Corp’s plan to sell itself to Japan’s Fujifilm Holdings has come under further pressure with Carl Icahn and Darwin Deason urging fellow shareholders to oppose the $ 6.1 billion deal.
  • Masayuki Otani, chief market analyst at Securities Japan, said that Xerox and Fujifilm have limited options in terms of addressing Icahn’s and Deason’s opposition to the deal.

(Reuters) – Xerox Corp’s plan to sell itself to Japan’s Fujifilm Holdings has come under further pressure with Carl Icahn and Darwin Deason urging fellow shareholders to oppose the $ 6.1 billion deal.

The activist shareholders, who own a combined 15 percent of the U.S. printer and copier maker, said the agreement dramatically undervalued Xerox and criticized the deal structure, which calls for the U.S. firm to be combined into the Fuji Xerox joint venture, as “tortured, convoluted”.

See the rest of the story at Business Insider

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