Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
TOKYO, Japan (AFP) — Japanese technology giant Fujifilm said Tuesday it was suing US firm Xerox, seeking more than $1 billion in damages after a merger between the two firms was scrapped last month. Fujifilm slammed what it said was a “unilateral decision to terminate without legitimate cause” the planned merger announced in January. The merger was shelved after a lawsuit by powerful shareholders Carl Icahn and Darwin Deason, who together own more than 15 […]
SAN FRANCISCO, United States (AFP) — Xerox on Sunday announced it was terminating a proposed merger with Fujifilm and appointing a new chief executive after entering into a settlement with activist shareholders who had contested the takeover. In a statement on its website, Xerox cited “material deviations” in the audited financials of an existing joint venture known as Fuji Xerox that is controlled by Fujifilm. The move follows a lawsuit by powerful shareholders Carl […]
TOKYO, Japan (AFP) — Japanese technology firm Fujifilm on Wednesday announced 10,000 job cuts by March 2020 at its Fuji Xerox subsidiary, which it said was facing an “increasingly severe” market environment. In a major shake-up, Fujifilm also announced it would be combining Fuji Xerox with US giant Xerox, bringing both companies under its umbrella to create what it said was the world’s largest “document solutions company” by revenue. As part of a cost-cutting package […]
