Home Fairfield Report: Xerox meets with Fujifilm in secretive deal talks

Report: Xerox meets with Fujifilm in secretive deal talks

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Xerox Corp. is reportedly in talks with Japan’s Fujifilm Holdings Corp. on corporate strategies that may impact the future of the Norwalk-headquartered company.

xerox fujifilmThe Wall Street Journal, citing unnamed “people familiar with the matter,” is reporting today that the companies could “potentially strike a major deal,” although Fujifilm’s takeover of Xerox is not being considered. It is unclear how long the talks have been going on. The unnamed sources reporting on this development have claimed no final deal is within sight.

The companies have worked together since the creation of the Fuji Xerox joint venture 55 years ago, which sells copiers and printers in the Asia-Pacific market and generates about $10 billion in annual sales.

The talks are taking place as Xerox deals with what The Wall Street Journal described as a “continued slump in sales and profit.” While the company has a market value of about $7.7 billion, it is carrying more than $4 billion of net debt. Furthermore, investor Carl Icahn, who owns a 9.7 percent stake in Xerox, cancelled an agreement with the company by removing his representative from its board of directors in order to campaign for more board seats.

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

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