TOKYO -- Fujifilm Holdings still believes that its takeover offer for Xerox is the U.S. office equipment maker's best hope for survival in a fiercely competitive global market, but the company is preparing in case the deal falls through, Fujifilm CEO Shigetaka Komori said in an interview with Nikkei on Thursday.
“When I thought of the best way to maximize the corporate value of Xerox, the takeover was the only choice, and I still think this plan is the one and only way,” Komori stressed. “(But) I’m not going to wait forever,” Komori said, adding “I don’t have a specific deadline in mind, but it should normally be around six months.”
In Jan
TOKYO -- Fujifilm Holdings still believes that its takeover offer for Xerox is the U.S. office equipment maker's best hope for survival in a fiercely competitive global market, but the company is preparing in case the deal falls through, Fujifilm CEO Shigetaka Komori said in an interview with Nikkei on Thursday.
“When I thought of the best way to maximize the corporate value of Xerox, the takeover was the only choice, and I still think this plan is the one and only way,” Komori stressed. “(But) I’m not going to wait forever,” Komori said, adding “I don’t have a specific deadline in mind, but it should normally be around six months.”
In January, Xerox and Fujifilm had agreed to a complex deal to fold Xerox into their 56-year-old Asian joint venture Fuji Xerox and give Fujifilm control. The plan was rejected in mid-May due to strong opposition from activist investors Carl Icahn and Darwin Deason.
Fujifilm doubts that Xerox can stay in business without the synergies their joint venture offers. Xerox's products are mostly developed and manufactured by Fuji Xerox. Xerox could try to dissolve the partnership and find another supplier, but Fujifilm believes finding such a deal on short notice at a reasonable price is unrealistic.
uary, Xerox and Fujifilm had agreed to a complex deal to fold Xerox into their 56-year-old Asian joint venture Fuji Xerox and give Fujifilm control. The plan was rejected in mid-May due to strong opposition from activist investors Carl Icahn and Darwin Deason.
Fujifilm doubts that Xerox can stay in business without the synergies their joint venture offers. Xerox's products are mostly developed and manufactured by Fuji Xerox. Xerox could try to dissolve the partnership and find another supplier, but Fujifilm believes finding such a deal on short notice at a reasonable price is unrealistic. read the rest here