(Reuters) - Xerox Corp’s board said on Wednesday it intended to resume merger discussions with Fujifilm Holdings, seeking a superior deal to terms announced at the end of January that have spurred a proxy fight over the company.
Carl Icahn and Darwin Deason, who own 15 percent of Xerox, have been trying to unravel the deal and unlock more value out the company. Asserting the Fujifilm deal values Xerox at just $28 per share, they said this week they would consider an all-cash bid of at least $40 per share.
Analysts say the prolonged fight for Xerox could ultimately push higher any offer price from Fujifilm or other interested parties. Buyout firm Apollo Global Management LLC considered a bid for Xerox last week, sources have said. read the rest here