| 2018-07-20 17:25:47|
XRX, FUJIY 17:25 07/20 07/20/18
Xerox, Centerview settle matters related to proposed Fuji tie-up
On July 20, 2018, Xerox Corporation (XRX) entered into an agreement between and among the company and Centerview Partners LLC pursuant to which the parties settled, without any admission of liability to the other, certain matters related to the previously proposed combination of the company with Fuji Xerox Co. Ltd., the joint venture between Fujifilm (FUJIY) and Xerox, solely for the purpose of avoiding litigation, uncertainty, controversy and legal expense, according to a regulatory filing. Pursuant to the Agreement, the parties have agreed to the following: Centerview will repay to the company all of the fees paid by the company to Centerview in connection with the Terminated Transaction pursuant to certain engagement letters between the company and Centerview; Centerview will not be entitled to any further payments or fees from the company under the Engagement Letters; and the company will release Centerview and Centerview will release the company from any claims arising out of or relating to the Engagement Letters as of the date of the Agreement, the financial advice and services, including a fairness opinion, provided by Centerview to the company, the Terminated Transaction, the actions pending in connection with the Terminated Transaction and any claim that was or could have been asserted in such actions.