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Xerox shares down after board cans Fujifilm deal


(Reuters) - Xerox Corp shares fell 4 percent on Monday after the photocopier pioneer said it scrapped a planned $6.1 billion deal to merge with Fujifilm Holdings Corp.The decision hands victory in one of the biggest ongoing U.S. proxy fights to activist investors Carl Icahn and Darwin Deason, who say they can secure better offers for the company than the deal with Fujifilm.Some Tokyo-based analysts warned a long renegotiation of price and terms as well as attempts to restructure the pair's existing joint venture could damage both companies."There is a large gap between our assessment and ...

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First Published: Mon, May 14 2018. 23:12 IST