IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Fujifilm (4901 JP): Favourable Ruling but a Much Better Offer Required to Complete Xerox Transaction

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<p><a href="https://www.smartkarma.com/entities/xerox-corp" target="_blank" data-smartkarma-citation="entities:17585:1" rel="noopener">Xerox Corp (XRX US)</a> has agreed to sell its 25% stake in Fuji Xerox, to <a href="https://www.smartkarma.com/entities/fujifilm-holdings-corp" target="_blank" data-smartkarma-citation="entities:16353:1" rel="noopener">Fujifilm Holdings (4901 JP)</a> as part of a deal that will bring Xerox total proceeds of $2.3 billion (JPY253 billion). The deal will also lead to Fujifilm terminating a $1 billion lawsuit against Xerox related to the aborted merger. In <a href="https://www.smartkarma.com/insights/fujifilm-4901-jp-favourable-ruling-but-a-much-better-offer-required-to-complete-xerox-transaction" target="_blank" rel="noopener">our previous note</a>, we provide more insights into the terminated deal.</p><div class="content-highlight"><p>In broad terms, exiting the acrimonious JV and dismissing the $1 billion lawsuit will enable both Fujifilm and Xerox to squarely focus on improving their respective businesses. Overall, we believe that Fujifilm is paying a fair price for full ownership of Fuji Xerox.</p></div>

Xerox Corp (XRX US) has agreed to sell its 25% stake in Fuji Xerox, to Fujifilm Holdings (4901 JP) as part of a deal that will bring Xerox total proceeds of $2.3 billion (JPY253 billion). The deal will also lead to Fujifilm terminating a $1 billion lawsuit against Xerox related to the aborted merger. In our previous note, we provide more insights into the terminated deal.In broad terms, exiting the acrimonious JV and dismissing the $1 billion lawsuit will enable both Fujifilm and Xerox to squarely focus on improving their respective businesses. Overall, we believe that Fujifilm is paying a fair price for full ownership of Fuji Xerox.

富士フイルム、富士ゼロックスに対する良好な解決策

FUJIFILM Holdings

富士フイルム、富士ゼロックスに対する良好な解決策