The board was emboldened by a 12% drop in Xerox’s stock price this week after the settlement put the Fujifilm deal in peril, the person added. Fujifilm and Xerox had been renegotiating to add another $5 a share to the dividend, people familiar with the matter said. Mr. Deason filed a lawsuit to block the deal and win the right to run a board fight. The suit alleged Mr. Jacobson had raced to seal the deal to protect his own job. The new board was expected to then try to terminate or restructure the Fujifilm deal while exploring other potential deals or going it alone.

Source: Wall Street Journal May 04, 2018 04:57 UTC