Xerox Corp (XRX. N) is nearing a deal with Fujifilm Holdings Corp (4901. T) that would cede control of the U. S. photocopier pioneer to its Japanese competitor, The Wall Street Journal reported citing people familiar with the matter.
(Reuters) — Xerox Corp ( XRX. N) is nearing a deal with Fujifilm Holdings Corp ( 4901. T) that would cede control of the U. S. photocopier pioneer to its Japanese competitor, The Wall Street Journal reported citing people familiar with the matter.
The deal, to be announced as soon as Wednesday, would combine Xerox with the five-decades-old joint venture it has with Fujifilm, the Journal said. Xerox shareholders would own just under half of the resulting entity and would get an implied premium for their stock and cash, it said.
The talks could still fall apart or the terms could change, the paper said, adding that Xerox shares would continue to trade following any deal.
Fujifilm and Xerox declined to comment on the report.
Xerox has been under pressure to find new growth sources as it struggles to reinvent its legacy business amid waning demand for office printing.
