Xerox Corp. CEO John Visentin blasted his Fujifilm Holdings Corp. counterpart's efforts to revive merger talks and warned that he doesn't plan to renew the companies' Asia joint venture Fuji Xerox in 2021.
Visentin, elevated to CEO after shareholders Carl Icahn and Darwin Deason won a court order blocking the companies' $6.1 billion merger deal, said in a letter to Fujifilm Chairman Shigetaka Komori on Monday that a lawsuit by Tokyo-based Fujifilm was "nothing more than a desperate, misguided negotiating ploy to save a takeover" that has already been blocked by a judge because of the "surreptitious actions of your team."
Visentin said Fujifilm's own accounting problems had made its deal with Xerox impossible to complete.
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