Two of Xerox's Biggest Investors Respond to Open Letter from Board

There's another salvo today in the public war of words between Xerox and two of its biggest investors.

Shareholders Carl Icahn and Darwin Deason say yesterday's statement from the Xerox board defending the proposed Fuji merger "grossly misrepresents the facts about their conduct over the past year."

In a letter today, Icahn and Deason says the record shows the review process for the deal was lacking, and the Board was advised by a team of self-interested legal and financial advisers. 

The Board said yesterday it would seek better terms from Fuji, but also would appeal the court injunction delaying the merger.

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