According to a report from Reuters, Japan’s Fujifilm Holdings has won an appeal in its legal battles with Xerox, with a New York court overturning preliminary injunctions requested by an activist investor that had blocked their planned merger.
Xerox in May scrapped a US$6.1 billion deal with Fujifilm in a settlement with investors Carl Icahn and Darwin Deason that also handed control of the US photocopier giant to new management.
The ruling by the New York State Appellate Court could give the Japanese firm leverage to bring Xerox management back to the negotiating table. Fujifilm is also suing Xerox in a separate US suit that seeks well over US$1 billion, accusing it of breach of contract in abandoning the deal.
Full Content: Reuters
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