Fujifilm gives up on Xerox acquisition, to dissolve 57-year-old JV

Fujifilm Holdings Corp. said Tuesday it has scrapped a plan to take a majority stake in Xerox Corp. after opposition to their deeper business integration and will dissolve their joint venture to terminate 57 years of partnership.Fujifilm said it will buy a 25 percent stake in Fuji Xerox Co. for $2.3 billion from the U.S. copier maker to discontinue the copy machine joint venture by making it into a wholly owned subsidiary.The decision comes after Fujifilm's plan to take a 50.1 percent stake in Xerox and merge it with the joint venture was derailed by Xerox activist shareholders Carl Icahn a…READ FULL ARTICLE