The deal would leave Fujifilm holding 50.1% of Fuji Xerox, with Xerox shareholders owning the rest. That plan fell apart days later amid recriminations from both sides, but now the Xerox board and the activist investors have settled their differences again. Under the agreement announced Sunday, Jacobson and five other directors have already stepped down, with the activist shareholders' picks replacing them, Xerox said. Helping Icahn and Deason's case was a court decision in late April that temporarily blocked the planned merger with Fujifilm. Related: Carl Icahn: Don't let Fujifilm 'steal' XeroxAs a result, it said it felt it was "in the best interests of the company and all of its shareholders" to scrap the Fujifilm deal and side with Icahn and Deason.

Source: CNN May 14, 2018 04:41 UTC