Xerox Corp in talks for major deal with Japan's Fujifilm Holdings

Xerox's market value stands at roughly $7.7 billion; it also has more than $4 billion of net debt

Xerox Corp. is in talks to potentially strike a major deal with Japan’s Fujifilm Holdings Corp. as the US document pioneer struggles to reinvent itself.

The two companies, which already have a joint venture, are discussing an array of possible deals that may or may not include a change of control of Xerox, according to people familiar with the matter. A full takeover of the Norwalk, Conn., company isn’t on the table, one of the people said. No deal appears imminent and one may not be reached.

Should there be a change of control of Xerox, it would mark the end of