Icahn to Accelerate Xerox (XRX) Restructuring - Piper Jaffray
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Icahn takes stake in Xerox, calls shares 'undervalued'
November 23, 2015 5:15 PM ESTBy Arathy S Nair and Anya George Tharakan
(Reuters) - Activist investor Carl Icahn disclosed a stake in Xerox Corp (NYSE: XRX) and called the printer and copier maker's shares "undervalued," sending the stock up 7.6 percent in extended trade.
The billionaire revealed a 7.13 percent stake in Xerox in a securities filing on Monday, making him the second-largest shareholder of the 109-year-old company.
Icahn, who recently took stakes in American International Group (NYSE: AIG) and Freeport-McMoran Inc (NYSE: FCX), said he would... More
Carl Icahn Files 13D on Xerox Corp. (XRX)
November 23, 2015 5:03 PM EST(Updated - November 23, 2015 5:06 PM EST)
Carl Icahn filed a 13D on Xerox Corp. (NYSE: XRX), showing a 7.13% stake, or 72,218,801 shares.
From the filing:
Item 4. Purpose of Transaction
The Reporting Persons acquired their positions in the Shares in the belief that the Shares were undervalued. The Reporting Persons intend to have discussions with representatives of the Issuer's management and board of directors relating to improving operational performance and pursuing strategic alternatives, as well as the possibility of board representation.
The Reporting Persons may, from time to... More
