It has been confirmed that Xerox and Fujifilm have entered into a definitive agreement to merge Xerox into the Fuji Xerox joint venture, which sells into the Asia Pacific region.
With Fujifilm owning the majority stake of 50.1%, the combined company will be known as ‘Fuji Xerox’ and post annual revenues of $18 billion.
The proposed transaction provides Xerox shareholders with a $2.5 billion special cash dividend, equivalent to approximately $9.80 per share, and 49.9% of the new company.
The combined company will have dual headquarters in Connecticut, in the US, and Tokyo, Japan, and maintain the Xerox and Fuji Xerox brands within its respective operating regions. Current CEO of Xerox, Jeff Jacobson, will serve as CEO of the new company.
