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Fujifilm is taking over Xerox for $6.1 billion

The Japanese company Fujifilm is taking over American copier firm Xerox, per Reuters.

Quick hits: Xerox will become a subsidiary of Fujifilm under the name of their existing joint venture, Fuji Xerox. Roughly 10,000 job cuts are expected at the joint venture, and the companies hope to save nearly two billion in costs over the next 4 years. [Go deeper]