Xerox Corp. Focussed on Finding New Growth Sources in View of Shrinking Demand for its Printer and Copy Business, Is Now Negotiating with Japanese Camera Manufacturer Fujifilm Holdings for Change of Control over Xerox, the Wall Street Journal [19659002] reports ,

  The Xerox logo can be seen in a building in Minsk, Belarus. Image: Reuters

The logo of Xerox company can be seen in a building in Minsk, Belarus. Image: Reuters

Norwalk, Connecticut Xerox was targeted by activist Carl Icahn, who is struggling to reinvent his legacy with the slowing demand for office printers. Fujifilm aims to streamline its copy business with a stronger focus on document solution services.

Xerox, a pioneer in photocopiers, and Fujifilm already have a five-decade-old copier joint venture headquartered in Tokyo, which focuses on the Asia-Pacific including Japan and China, leaving Xerox to the rest of the world cover up.

The journal report on Wednesday quoted people who are familiar with the matter. It was also said that a complete takeover of Xerox was not on the table and quoted one of the employees.

Xerox declined to comment. Fujifilm said it will not comment on speculative reports.

Xerox has a market value of about $ 7.7 billion, while Fujifilm has a value of about $ 22 billion.

Xerox needed a new leadership "urgently" Englisch:…p?art_id=575.…p?art_id=844 Icahn wrote in an open letter to shareholders in December, one day after the nomination of four members into the board, slowly, to launch new products and increase revenue. He is the largest shareholder of Xerox with a 9.7 percent stake.

Xerox spun off the Business Process Outsourcing Unit in 2016 and split into two independent, publicly quoted companies.

Fujifilm shares in Tokyo dropped 1.8 percent to 4,724 yen, according to the Journal report, while the broader Japanese market slipped 0.3 percent.

The copier joint venture, Fuji Xerox, was founded in 1962 and now accounts for nearly half of Fujifilm sales and operating income.

Fujifilm has sought growth outside the shrinking photo-film business, increasing acquisition activity in areas such as regenerative medicine.

Earlier transactions involve the purchase of Cellular Dynamics International Inc., a US biotechnology company that manufactures iPS cell lines

Last August, it said it had invested 500 billion yen ($ 4.49 billion) in strategic Acquisitions over three years should invest.



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