Judge Blocks ‘Quick’ Appeal from Xerox
Xerox had asked that its appeal be heard quickly, “concerned that a delay might endanger the proposed deal.”
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Deason, Icahn Post $150 Million Bond to Keep Temporary Injunction Against Fujifilm Deal
“We see several paths to victory – but none of them involve selling a 50.1% interest in Xerox in a deal that offers no control premium and leaves shareholders vulnerable to oppression by an overlord that is embroiled in an ever-widening accounting scandal,” said Icahn and Deason.
Ichan, Deason Pen Letter to Xerox Shareholders Urging End to Fujifilm Deal
“Over the next few months, we intend to see that ‘massively conflicted’ Jeff Jacobson and old guard directors like Bob Keegan, Ann Reese and Chuck Prince, who have already done so much damage to the company, and are continuing to do more damage with these actions, are held fully and personally liable for their misconduct.”
Xerox Appeals Court Decision that Blocks Xerox-Fuji Xerox Merger
The appeal also states that the decision harms Xerox shareholders by preventing them from voting on the proposed Xerox-Fuji Xerox merger that the Xerox board concluded was both “value-maximizing and the only available option.”
This Week in Imaging: What’s Next for Xerox? Plus, Ricoh, Epson, EFI Financials, More
A private-equity deal may also be in the works: on May 2nd Reuters reported that buy-out firm Appollo Global is approaching Xerox with possible acquisition in mind. Meanwhile, Fujifilm said it will appeal the court order blocking the deal.
Stunning U-Turn: Xerox Settlement Off; Current Xerox Board, CEO Remain in Place
“The brazen self-interest of the Xerox Board defies description,” stated Carl Icahn, who blamed the Xerox board for letting the deal expire.
HP to Compensate Printer Customers after Firmware Prevents Use of Third-Party Ink Cartridges
ACCC deputy chair Michael Schaper said: “Consumers were not made aware of the restriction on using non-HP ink cartridges when buying the printer or downloading the firmware update, and were denied the choice to accept or reject it…”
Panasonic Updates Status of B2B Transition, Document-Scanner Strategy, More
Steve Young, president and CEO of Square 9 Softworks, explained that Square 9 has been working with Panasonic for close to two years, noting, “We’re trying to re-define the notion of (document) capture…and the reach of capture.”
Who is Xerox’s New CEO John Visentin?
According to Icahn, Visentin had the skills that would help Xerox shareholders understand why the proposed merger with Fuji Xerox was a bad idea, and that a new management team would be better for Xerox.
EFI Reports Record First-Quarter Revenue For First-Quarter 2018
Electronics For Imaging (EFI) today reported results for first-quarter 2018, reporting “record” first-quarter revenue of $239.9 million, up 5 percent compared......
Konica Minolta Consolidating Operations in New Jersey
Commercial Property Executive reports that Konica Minolta Business Solutions U.S.A. is consolidating its U.S. operations into a single campus, starting......
Xerox Reports First-Quarter Results
Because of Xerox’s announcement this week that its CEO and six Xerox board members will be stepping down under its pending Director Appointment, Nomination and Settlement Agreement with Carl Icahn and Darwin Deason, Xerox is not releasing a financial forecast.
Static Control Opens New Distribution Center in Texas
Canon has also filed a patent-infringement lawsuit against Static Control, which says it’s the world’s largest manufacturer and distributor of parts and supplies supporting the toner remanufacturing industry.
Fujifilm Objects to New Proposed Xerox Agreement with Deason, Icahn
Fujifilm will review its plan to purchase Xerox for $6.1 billion, but also is said to have expressed serious concerns over the new developments.
In Stunning Reversal, Xerox Yields to Deason and Icahn in Far-Reaching Settlement
The new Xerox board will meet immediately to discuss alternatives to the proposed Xerox-Fuji Xerox merger.
Ricoh Reports ¥135.5 Billion Loss for Fiscal Year
For its fiscal year that will end in March 2019, Ricoh is forecasting that sales will be down slightly (-1.1 percent) and net income of ¥47 billion.
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