In addition, the combined company's strong financial profile will enable investments that support continued market leadership, while also providing opportunities for increasing capital returns over time.' Robert J. Keegan, chairman of Xerox's board of directors said, 'The announcement follows a comprehensive review of our strategic and financial alternatives led by Xerox's independent directors that began after the separation of Conduent in 2016. Upon careful consideration of all alternatives available to the company, the board of directors concluded that this combination is clearly the best path to create value for our shareholders. An attractive, certain cash dividend, together with participation in the future success of the combined company, presents a compelling value equation for Xerox shareholders. We are excited to strengthen our longstanding relationship with Fujifilm as we enter the next phase of Xerox's transformation journey.'