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Xerox

Emily Hunt for WXXI News

Industry experts and retirees are weighing in on Wednesday's news that Fuji and Xerox will merge, with the Japanese company taking a controlling interest in the new venture.

A question on the minds of many in Rochester is how many jobs could be lost during the transition to the new company, Fuji Xerox.

With the news on Wednesday at Xerox will combine with their current joint venture with Fujifilm holdings to create a new company called Fuji Xerox, WXXI's Beth Adams talked with George Conboy from Brighton Securities about the impact this may have in Rochester.

Xerox, the storied American company that has its roots in Rochester in the early 20th century, is getting a new owner.

Early Wednesday morning it was announced that Fujifilm Holdings, the company that Xerox has had a joint venture with for many years, will take a majority stake in the company. The new business will be called Fuji Xerox, and will be 50.1% owned by Fujifilm, while also keeping Xerox's listing on the NYSE.

Emily Hunt / for WXXI News

Xerox reportedly is nearing a deal with Fujifilm Holdings that would combine Xerox with the joint venture that Xerox has with the Japanese company.

The story in the Wall Street Journal says the deal would see U.S. shareholders own just under half of the new entity.

The WSJ had reported earlier this month that Fujifilm and Xerox were talking about an array of possible alternatives that might or might not involve a change of control for Xerox.

Emily Hunt / for WXXI News

An iconic part of the downtown Rochester area is changing.

Xerox announced on Friday that it has negotiated an early termination of its lease for the Xerox Square building on South Clinton Avenue.

The company says it will transition several hundred of its 3,400 Monroe County employees to its Webster campus by the middle of the year. Webster remains the company’s largest global location, with more than 5 million square feet of office, manufacturing, lab and warehouse space.

Emily Hunt / for WXXI News

A new report says that two of Xerox’s biggest investors are pushing the company to consider a possible sale.

The story is in the Wall Street Journal which says that billionaire investors Carl Icahn and Darwin Deason have formed an alliance and plan to encourage Xerox to look at the possibility of selling the office technology company.

Xerox is said to be in talks to potentially reach a major deal with FujiFilm Holdings. 

That’s according to a report in the Wall Street Journal which says that the two companies, which already have a joint venture, are looking at a variety of possible deals that may or may not include a change of control at Xerox.

One of the sources quoted by the Journal says that a full takeover of Xerox is not on the table, and no deal appears to be imminent.

There may be some big changes on the way for Xerox’s Board of Directors.

The word came early Monday with Xerox announcing that Jonathan Christodoro, a board member who was originally appointed by activist investor Carl Icahn, is resigning. Christodoro is making that move so that he can join a slate of three other Icahn-backed nominees to run for the Xerox board next year.

The latest Paychex-IHS Small Business Employment Watch is out; we talk about the changes in job growth and wage growth in the November survey.

We also talk about some changes for the Xerox Board of Directors; One director, who has worked with activist investor Carl Icahn is resigning, but he and three others will seek to join the board next year.

And there are corporate changes for a local high-tech company, iCardiac Technologies.

Paychex is out with a new survey on what small businesses around the country think about the new tax reform plan. As of late last month, there were some differing opinions.

Also, we recap Xerox CEO Jeff Jacobson's presentation at a financial conference where he points out what the company will need to do to improve revenues, and we highlight a big gift for Hobart and William Smith Colleges.
 

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