TOKYO—Fujifilm Holdings Corp. said Monday it would continue to fight for a merger with Xerox Corp. and present its offer again to Xerox’s new management, but it won’t sweeten the terms.
Xerox on Sunday said it would back out of a deal reached in January, under which Fujifilm was to have taken a majority stake in the American company. Xerox said it reached a new settlement with two of its biggest shareholders who oppose the January deal. The settlement calls for Xerox to replace its chief executive and overhaul its board.
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