Judge Temporarily Halting Xerox and Fujifilm Merger

posted by Newsradio WHAM 1180 -

Xerox is planning to appeal a judge's ruling Friday night blocking the deal to sell most of the company to Fujifilm Holdings. 

The judge issued a preliminary injunction and ruled Xerox CEO Jeff Jacobson was looking out for his own interests over those of company shareholders. The suit was filed by investor Darwin Deason after the merger was announced earlier this year. 

According to "The Wall Street Journal," documents in the suit showed the board had been looking at replacing Jacobson last fall and told him then to stop negotiating the deal.

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