Fujifilm wins appeal in Xerox battle

|By:, SA News Editor

Fujifilm (OTCPK:FUJIY) has won an appeal in its legal battle with Xerox (NYSE:XRX), with a U.S. court overturning preliminary injunctions requested by activist investors that had blocked a planned merger.

The ruling could give Fujifilm leverage to bring Xerox management back to the negotiating table after the two companies agreed in January to a complex deal that would have combined Xerox into their Asia joint venture and given Fujifilm control.

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