Fujifilm Tells Xerox It's Reviewing Its Options, Including 'Legal Action Seeking Damages'

Fujifilm is considering legal action that would force Xerox to pay damages for backing out of acquisition talks but it said it will not raise the value of its offer for the company. 

“The proposed transaction, including its economic terms, was negotiated at arm's length based on fair valuations and we continue to believe it is the best option designed to allow the stockholders of both companies to share the enhanced future value of the combined company with Fujifilm," the company said in a statement. "Fujifilm will urge the Xerox board of directors to reconsider their decision.”

As of Sunday the Xerox board has been restaffed with five new members loyal to activist investors Carl Icahan and Darwin Deason, who had led a four-month PR campaign and court battle to abandon the Fuji talks. Also gone is ....read the rest here

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