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Major Xerox investor sues to block takeover by Fujifilm

Published : Thursday, 15 February, 2018 at 12:00 AM Count : 112

NEW YORK, Feb 14: One of Xerox's biggest shareholders filed suit Tuesday to challenge the US photocopier and printer maker's planned takeover by Japanese technology firm Fujifilm.
The suit was lodged by Darwin Deason who -- along with Carl Icahn -- controls 15.2 per cent of Xerox's shares, according to a document presented to the US Securities and Exchange Commission.
Deason is suing Xerox and Fujifilm in a New York state court, alleging fraud.
Under the planned deal, Xerox is to be absorbed by an existing joint venture known as Fuji Xerox and will fall under the control of Fujifilm, which until now held a 75 per cent stake in the joint venture.    AFP

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