Fujifilm set to sue Xerox soon for scrapping takeover deal

The following appears on Reuters.com

(Reuters) – Fujifilm Holdings Corp is planning to sue Xerox Corp soon deeming that the U.S. photocopier company has no legal right to unilaterally scrap their $6.1 billion merger, a senior Fujifilm executive said on Friday.

“We are currently in talks with lawyers on the schedule for filing the lawsuit and plan to go to court as soon as possible,” Chief Operating Officer Kenji Sukeno said at an earnings briefing.

In January, Fujifilm and Xerox agreed to a complex deal to merge Xerox into their 56-year-old Asia joint venture Fuji Xerox and give Fujifilm control.

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