Skip to content
Subscriber Only

Xerox Judge Rejects Fujifilm Bid to Dissolve Deal Injunction

  • Fujifilm wants to dump legal roadblocks to $6.1 billion merger
  • Japanese firm says it will be harmed if it can’t forge deal
Updated on

Fujifilm Holdings Corp. failed to persuade a Manhattan state judge to dissolve an order barring its planned merger with Xerox Corp., cutting off a possible option for keeping the deal alive.

The company has claimed in a separate lawsuit it will suffer $1 billion in damages if it can’t cement the $6.1 billion takeover, which was thwarted by activist investors Carl Icahn and Darwin Deason. Deason sued Xerox in February in Manhattan state court to block the acquisition, accusing its former Chief Executive Officer Jeff Jacobson of acting without authorization to strike a deal that preserved his job at shareholders’ expense.