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Business deals

Fujifilm takes over long-term partner Xerox

Combined copier maker to axe 10,000 jobs, confident of shareholder support

TOKYO -- Fujifilm Holdings announced on Wednesday that it will take over its long term partner Xerox, creating a copier maker on the same scale as industry leader HP.

Under the deal, Xerox will fully acquire their co-owned subsidiary Fuji Xerox, Fujifilm will own 50.1% of Xerox, and the U.S. company will subsequently change its name to Fuji Xerox.

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