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Fujifilm wins appeal in battle with Xerox. Japan’s Fujifilm Holdings Corp has won an appeal in its legal battles with Xerox Corp, with a New York court overturning preliminary injunctions requested by an activist investor that had blocked their planned merger. Xerox in May scrapped a $6.1 billion deal with Fujifilm in a settlement with investors Carl Icahn and Darwin Deason that also handed control of the U.S. photocopier giant to new management. The ruling by the New York State Appellate Court could give the Japanese firm leverage to bring Xerox management back to the negotiating table. Fujifilm is also suing Xerox in a separate U.S. suit that seeks well over $1 billion, accusing it of breach of contract in abandoning the deal. “The latest ruling is a step forward for Fujifilm to make the deal happen,” said Masayuki Otani, chief market analyst at Securities Japan who believes Fujifilm should focus on healthcare. “But concerns remain about whether taking over Xerox is the right step for the company.”