Deason reports 6% stake in Xerox, demands disclosure of JV pact with Fujifilm
In a regulatory filing, Darwin Deason reported a 6% activist stake in Xerox (XRX), saying he acquired the shares pursuant to the merger agreement by and among Xerox, Boulder Acquisition, and Affiliated Computer Services, and the shares of Xerox Series B Preferred Stock pursuant to the exchange agremeent. Deason also noted in the filing that, on January 17, 2018, he sent a letter to the board of directors of Xerox publicly demanding the need for the company to immediately disclose its critical existing joint venture agreement with Fujifilm Holdings Corporation (FUJIY) in accordance with the U.S. securities laws. Further, the letter demanded that the board of directors hire new and independent advisors in order to evaluate the company's strategic options with Fuji. The letter concluded by calling for further discussions once the critical joint venture agreement has been disclosed.