Deals of the day: Fujifilm Holdings buys Xerox to form $18 billion firm

Fujifilm Holdings is buying control of Xerox in a deal that creates an $18 billion company and marks the end of the independence of the iconic American corporate giant.
 
Xerox, which has a market value of $8.3 billion, will first merge with a joint venture the company operates with Fujifilm in Asia, according to a statement Wednesday. Current Xerox shareholders will receive a cash dividend of $9.80 per share. In a complex transaction, Tokyo-based Fujifilm will ultimately end up owning 50.1 per cent of the combined entity, which expands the joint venture to encompass all of Xerox’s operations.