Fujifilm Prospects of Xerox Deal Dashed After Meeting

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By KOSUKE SHIMIZU – TOKYO — Xerox stakeholders failed to speak up in favor of an acquisition by longtime partner Fujifilm Holdings at a general meeting Tuesday, dimming the Japanese company’s prospects of fighting the activist investors opposing the deal.

The Tokyo-based photography and imaging company’s focus now shifts to appealing an injunction placed on the deal in April by a U.S. court. Under the original agreement, the American office machine maker would have taken over joint venture Fuji Xerox, and Fujifilm would have taken a majority stake in the merged company. Hearings on the appeal are set to begin in September.

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