The new combined company, Fuji Xerox, will trade on the New York Stock Exchange and have dual headquarters in Norwalk, Connecticut, and Tokyo. Photo: ReutersTokyo: Fujifilm Holdings Corp. is buying control of Xerox Corp. in a deal that creates an $18 billion company and marks the end of the independence of the iconic American corporate giant. Xerox, which has a market value of $8.3 billion, will first merge with a joint venture the company operates with Fujifilm in Asia, according to a statement on Wednesday. Current Xerox shareholders will receive a cash dividend of $9.80 per share. Jeff Jacobson, chief executive officer (CEO) of Xerox who has come under criticism from activist investor Carl Icahn, will become CEO of the combined company.

Source: Mint January 31, 2018 15:22 UTC