Xerox ends $6.1b Fujifilm deal in triumph for activist investor Icahn

Carl Icahn. Photographer: Victor J. Blue/Bloomberg

Xerox Corp. called off a $6.1 billion takeover by Fujifilm Holdings Corp. and parted ways with its chief executive officer, handing a major victory to activist investors Carl Icahn and Darwin Deason.

In an agreement with the two investors, which together own about 13 percent of Xerox, the U.S. office equipment supplier said CEO Jeff Jacobson will step down along with several other board members. John Visentin is expected to take over as CEO while Keith Cozza, the CEO of Icahn Enterprises, will become chairman.

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