(Bloomberg) -- Fujifilm Holdings Corp. accused Xerox Corp. of caving to the whims of activist investors Carl Icahn and Darwin Deason in backing out of a $6.1 billion takeover deal.

Fujifilm sued Xerox Monday in Manhattan federal court over the failed takeover, seeking more than $1 billion in damages. Xerox’s board said it was terminating the transaction on May 13, according to the lawsuit.

“This change of heart is undoubtedly due to external pressures,” Fujifilm said in the complaint. “Xerox has recently been subject to the whims of activist investors Carl Icahn and Darwin Deason, who, notwithstanding their minority ownership of Xerox shares, have yanked the Xerox Board in more directions than can be counted.”

Icahn and Deason, who argued the Fujifilm deal undervalued Xerox, succeeded in their bid to stymie the transaction and push out the American company’s CEO. Since then, the companies have been at odds over the next step.

A representative for Icahn was not immediately available for comment.

To contact the reporters on this story: Bob Van Voris in federal court in Manhattan at rvanvoris@bloomberg.net;Scott Deveau in New York at sdeveau2@bloomberg.net

To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Joe Schneider

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