According to a Xerox announcement, Xerox notified Fujifilm—late May 13, 2018—the previously announced transaction agreement to combine Xerox with Fuji Xerox is being terminated.
Thereafter, Xerox entered into a new agreement with Carl Icahn & Darwin Deason. The agreement resolves the pending proxy contest in connection with the company’s 2018 Annual Meeting of Shareholders and Mr. Deason’s litigation against Xerox and its directors. Under the terms of the settlement agreement, the following occurred:
Thereafter, Xerox entered into a new agreement with Carl Icahn & Darwin Deason. The agreement resolves the pending proxy contest in connection with the company’s 2018 Annual Meeting of Shareholders and Mr. Deason’s litigation against Xerox and its directors. Under the terms of the settlement agreement, the following occurred:
- Xerox appointed 5 new members to its Board of Directors,
- Jeff Jacobson resigned (again) as CEO & Board member.
