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"We have no intention of sweetening the financial terms of the January acquisition plan," said Fujifilm's Shigetaka Komori.
Xerox shareholder counsel Richard Marooney argued that lifting an injunction blocking the companies' merger would enable Fujifilm Holdings to pursue the terminated transaction.
The head of Fuji Xerox Co. Ltd., the joint venture between the sparring companies Xerox Corp. and Fujifilm Holdings, expressed confidence that the venture’s future is secure.
Fujifilm CEO Shigetaka Komori offered a harsh response to a June 25 letter by Xerox CEO John Visentin that blamed the Japanese company for the collapse of their $6.1 billion acquisition deal.
The percolating drama between Xerox Corp. and Fujifilm Holdings has boiled over as the Japanese company filed a $1 billion lawsuit against Xerox for terminating their $6.1 billion acquisition deal.
Visentin’s presence could be viewed as a sore reminder of Fujifilm’s $6.1 billion aborted acquisition of the Norwalk-headquartered Xerox.
The Xerox-Fujifilm Holdings saga took yet another turn as Shigetaka Komori, Fujifilm’s CEO, gave the Norwalk-headquartered company six months to mend the canceled $6.1 billion acquisition deal.
Fujifilm President and Chief Operating Officer Kenji Sukeno declared the Norwalk-headquartered Xerox "has no right to scrap the contract unilaterally."
The $6.1 billion acquisition of Xerox Corp. by Fujifilm Holdings was terminated and CEO Jeffrey Jacobson and Chairman Robert Keegan resigned. Keith Cozza, CEO of Icahn Enterprises L.P., will be the new chairman of the board and John Visentin, previously announced as vice chairman and CEO, will finally take over those jobs.
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