Xerox Corp (NYSE:XRX) stock was up today on reports that it is in talks with Fujifilm about a possible deal.
According to these recent reports, Xerox Corp and FujiFilm are discussing several different deals. People close to the matter claim that these deals may result in changing control over XRX. However, the deals don’t appear to include a full takeover of the company.
The sources behind this report claim that there is no guarantee that a deal between Xerox Corp and Fujifilm will actually take place. The two companies have been taking part in a joint-venture together for the last 55 years and have a strong relationship.
A change of leadership at Xerox Corp may be happening one way or another. Activist investors Carl Icahn, who has a 9.7% stake in XRX, has been pushing for more Board seats. It’s also possible that the deal between the Xerox and Fujifilm could result in the former cutting costs and becoming a leaner company. It’s still unknown how Icahn would react to such a deal, reports The Wall Street Journal.
Both Xerox Corp and Fujifilm are refusing to comment on the recent reports about a deal between them. Despite this, the two working together may result in them both overcoming their shortcomings. XRX has been struggling lately as its copier business declines and Fujifilm is dealing with similar problems as its photographic film business drops.
XRX stock was up 4% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.