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Business deals

Stubborn Fujifilm loses out to Icahn in battle for Xerox

A refusal to budge on price was a crucial factor that doomed the deal

The end of the Xerox deal leaves Fujifilm-owned joint venture Fuji Xerox in a tough position without access to major growth markets.

TOKYO -- U.S. office equipment maker Xerox scrapped plans to be bought by Japanese partner Fujifilm Holdings amid a steady drumbeat of criticism from shareholder Carl Icahn, in what amounts to a stinging defeat for Fujifilm CEO Shigetaka Komori.

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