Fujifilm is to sue Xerox over damages related to the failed merger between the two companies. It said that as far as it is concerned the contract between them is still valid.
For those who came in late, Xerox backed out of the deal after a successful revolt by activist investors Carl Icahn and Darwin Deason and the replacement of the Xerox CEO.
Fujifilm Chief Operating Officer Kenji Sukeno said at an earnings briefing that his outfit is currently consulting m’learned friends on the schedule for filing the lawsuit and plan to go to court soon.
“The contract that ties the two companies together is still valid. We will push for the legality of it. There was a legal contract that everyone agreed on, and after that a few shareholders wanted to put a stop to it”,Sukeno said.
Fuji and Xerox were poised to join forces at the end of January in a stock swap deal that would have handed Fuji control of the American printer. However, a public relations campaign and legal battle waged.
