Fujifilm sues Xerox for over $1 bil. after canceled merger english.kyodonews.net

posted by  banzaitokyo | 6 years, 11 months ago

Japan's Fujifilm Holdings Corp. said Tuesday it has sued Xerox Corp. for canceling a merger contract between the two companies, with damages expected to top $1 billion, in a move further complicating the outlook for the acquisition talks.

"The merger of the two companies is the only correct path that would bring significant benefits for the shareholders of both companies in the short and long term ," Fujifilm said in a statement released after bringing the case to a New York court on Monday.