Carl Icahn takes aim at Xerox’s longstanding deal with Fujifilm
Bengaluru — Hedge fund investor Carl Icahn has called for the termination or renegotiation of Xerox’s long-running photocopier joint venture with Fujifilm Holdings, reiterating demands for a change of leadership at Xerox. In an open letter addressed to shareholders on Thursday, Icahn added his voice to that of another major owner of Xerox stock, Darwin Deason, who told the company on Wednesday to make public the terms of a deal with Fujifilm he said was probably "one-sided". "We are obviously in favour of renegotiating the joint venture agreement to make it more favourable for Xerox," Icahn said. "This should have been done a long, long time ago." Xerox, which has called Deason’s criticism "false and misleading", said it was aware of Icahn’s letter and was "focused on creating value for all shareholders and will continue to take action to achieve this objective". The five-decade-old joint venture, 75% owned by Fujifilm and 25% by Xerox, is a pillar of Fujifilm’s business, accounting...
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