Under the terms of the merger with Xerox, Fujifilm would have held 50.1 percent of Fuji Xerox while current shareholders would have received a special cash dividend of $2.5 billionIn a statement on its website, Xerox cited "material deviations" in the audited financials of an existing joint venture known as Fuji Xerox that is controlled by Fujifilm. In early May, Xerox announced Jacobson would be stepping down before reversing its decision two days later. Under the terms of a merger with Xerox, Fujifilm would have held 50.1 percent of Fuji Xerox while current shareholders would have received a special cash dividend of $2.5 billion. In the wake of the announcement of Xerox's takeover in January, Fujifilm announced a cost savings plan envisaging thousands of job cuts at Fuji Xerox. Fuji Xerox was also weakened last year by the discovery of accounting irregularities dating back to 2010.

Source: Bangkok Post May 14, 2018 02:37 UTC