Seeks to accelerate manufacturing process innovation, and change the future of manufacturing
Xerox (NYSE: XRX) today issued the following letter from its Board of Directors to its shareholders.
In addition to a presentation by president and CEO Claus Bolza-Schünemann outlining the companys performance in 2017 and the first quarter of 2018, details of the growth strategy being pursued and medium-term earnings targets of printing press manufacturer Koenig & Bauer AG played a key role at the companys 93rd annual general meeting, which was presided over by supervisory board chairman Dr Martin Hoyos.
Heidelberger Druckmaschinen AG (Heidelberg) made significant progress with the Groups targeted digital transformation in financial year 20172018 (April 1, 2017 to March 31, 2018). A number of customers have already opted for the new subscription model that offers Heidelberg products and services under a usage-based all-in contract running over several years. The total of more than 30 contracts targeted for the new financial year 20182019 are set to generate a business volume of some 150 million over the term of the standard five-year models.
Xerox (NYSE: XRX) today announced that it has taken an appeal from the decision enjoining the Fuji Xerox combination. Xerox strongly believes that the decision is contrary to well-established New York law vesting the Board of Directors of Xerox with the business judgment to enter into the transaction agreement with Fujifilm (the Transaction) and that the decision to approve should rest with Xeroxs shareholders, not the Court.
Xerox Board to Consider Options to Achieve Optimal Outcome for Company and its Shareholders
Xerox (NYSE: XRX) today announced that it has entered into an agreement with Carl Icahn and Darwin Deason that will resolve the pending proxy contest in connection with the companys 2018 Annual Meeting of Shareholders, as well as the ongoing litigation against Xerox and its directors related to the companys proposed combination with Fuji Xerox. The agreement does not affect any claims of Mr. Deason against Fujifilm for aiding and abetting.
