Xerox and Fujifilm have entered into a definitive agreement to combine Xerox and their longstanding Fuji Xerox joint venture.
The combined company will have annual revenues of $18-billion and can claim a leadership position in key geographic regions.
The combined company will have dual headquarters in Norwalk, CT and Minato, Tokyo, Japan. It will maintain the iconic “Xerox” and “Fuji Xerox” brands within its respective operating regions.
Xerox shareholders will receive a $2,5-billion special cash dividend, or approximately $9.801 per share, and 49,9% of the combined company. Fujifilm will own 50,%
The combined company is expected to deliver at least $1,7-billion in total cost savings, with $1,2-billion to be achieved by 2020.