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Analysis

Xerox Settlement Lays Path For Proxy Fights Outside Del.

Law360 (May 2, 2018, 8:29 PM EDT) -- An agreement between Xerox and activist shareholders that saw the company's CEO step down late Tuesday suggests that a New York state judge's ruling to temporarily block Xerox's $6.1 billion tie-up with Fujifilm could have long-lasting legal implications, including establishing that proxy disputes can be resolved in states other than Delaware.

Xerox Corp. revealed on Tuesday an agreement with activist investor Carl Icahn and businessman Darwin Deason — the first- and third-largest Xerox shareholders, respectively — that will bring to an end both the pending proxy contest and consolidated litigation against Xerox and its directors related to the company’s proposed transaction...

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