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Business deals

Fujifilm takes over the driver's seat at Xerox

Japanese company to acquire 50.1% stake in US technology pioneer

Fujifilm Holdings Chairman and CEO Shigetaka Komori speaks at a news conference Wednesday in Tokyo.   © Reuters

TOKYO -- Japan's Fujifilm Holdings announced a plan on Wednesday to take a controlling stake in its longtime U.S. partner Xerox, creating a copier maker similar in scale to industry leader HP. 

Under the deal, Xerox will acquire Fuji Xerox, the partners' co-owned subsidiary. Fujifilm will then purchase a 50.1% stake in Xerox, and the U.S. company's name will be changed to Fuji Xerox.

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