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Kekst & Co. is working with Japan’s FujiFilm, which today threatened to compete with Xerox if it decides not to renew its 56-year technology partnership that expires in 2021.
Chairman Shigetaka Komori wrote in a letter to Xerox CEO John Visentin that FujiFilm is ready to compete with Xerox in Asia Pacific and enter the US and European markets.
He believes Xerox’s reason for cutting ties with FujiFilm is “merely a thinly veiled pretext to bargain for a higher price.”
For its part, Xerox calls FujiFilm’s suit filed against it last week “nothing more than a desperate and misguided negotiating ploy to save their takeover attempt,” which has been enjoined by the New York Supreme Court.
FujiFilm had a $6.1B deal to acquire Xerox, but the transaction was torpedoed in May by activist investor Carl Icahn.
The scrapped acquisition led to the resignation of Xerox CEO Jeff Jacobson and five board members.
Kekst’s Ruth Pachman and Kimberly Kriger represent FujiFilm.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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