Tokyo — Fujifilm is gaining control of Xerox in a deal that would create an $18bn company and see the iconic American corporate giant launching into new lines of business to seek global growth. The deal would combine Xerox, which has a market value of $8.3bn, with a joint venture the company operates with Fujifilm, according to a statement Wednesday. Xerox shareholders will receive a $2.5bn special cash dividend, or approximately $9.80 per share, funded from the combined company’s balance sheet, and own 49.9% of the combined company at closing. The joint venture will also cut 10,000 jobs globally as Fujifilm undertakes a restructuring, the Japanese company announced Wednesday. The new combined company, Fuji Xerox, will trade on the New York Stock Exchange and have dual headquarters in Connecticut and Japan. End of independence The deal marks the end of independence for a US company whose roots trace back to the start of the 20th century. While Xerox became famous for its hardware, i...
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