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Xerox fires back at Icahn, Deason over Fujifilm deal

Xerox fires back at Icahn, Deason over Fujifilm deal

February 13, 2018 09:11 AM

Xerox defended its decision to merge with Fujifilm Tuesday, calling criticism from shareholders Carl Icahn and Darwin Deason "misleading" and "inaccurate."

On Monday, Icahn and Deason stated the company's joint venture with Fujifilm “dramatically undervalues Xerox and disproportionately favors Fuji.”

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In a letter to shareholders, Xerox says Icahn and Deason are urging shareholders to reject a “value-creating transaction in favor of putting Xerox’s future and the investment of its shareholders at risk.”

Xerox also says CEO Jeff Jacobson will represent one of the seven Fujifilm Board designees and serve as CEO of Fuji Xerox.

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