The Fujifilm Xerox merger is still on hold, but now both companies are appealing the decision. Xerox is also looking to make another offer that might be acceptable to all parties, but as of now Fujifilm hasn’t received anything and they seem to prefer the previous deal. Further, an analysis has picked apart the merger and found that Fujifilm’s offer largely matches the demands of the activist shareholders, but the shareholders would rather the deal be a cash deal than a stock based one, which might play into the appeal. The merger doesn’t seem to be having much affect on Fujifilm’s stock, but Xerox has been up and down based on announcements.
