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Xerox Ends 57-Year Venture With $2.3 Billion Sale to Fujifilm

Nov. 5, 2019, 6:50 AM

Xerox Holdings Corp. agreed to sell 25% of Fuji Xerox to its Japanese partner, jettisoning its slice of the five-decade old venture after a merger attempt fell through.

Fujifilm Holdings Corp. will buy the stake for $2.3 billion and own 100% of Fuji Xerox, the companies said in a statement Tuesday. Shares in Fujifilm jumped 6.7%, their biggest gain since February 2018, after the Wall Street Journal reported on the deal before trading closed on the Tokyo Stock Exchange.

Xerox, a name synonymous with the copying industry, had signaled since 2018 it intended to sever ties with its Japanese ally....

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