The Fujifilm-Xerox merger is off

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Xerox has called off its sale merger with Fujifilm after Xerox made a last-minute deal with two of its investors, it has emerged.

The BBC and others report that investors Carl Icahn and Darwin Deason have reached a £4.5 billion / $6.1 billion deal to acquire 15% of Xerox.

With the deal, Xerox has fired its CEO along with six members of the board. Fujifilm, however, has said it disputes Xerox’s ‘unilateral decision.’

“We do not believe that Xerox has a legal right to terminate our agreement.”

“We are reviewing all of our available options, including bringing a legal action seeking damages.”