Carl Icahn Invests More in Xerox

Carl Icahn Invests More in Xerox

Carl Icahn Invests More in Xerox

Carl Icahn Invests More in XeroxActivist investor Carl Icahn raised his stake in U.S. printer maker Xerox Holdings Corp (XRX.N) to about 14.4% as of Nov. 5, according to a file. It is months after he backed the company’s abandoned takeover of personal computer maker HP Inc (HPQ.N).

According to Reuters, Xerox’s shares rose 3.4% in extended trading on the news.

Icahn, who last reported a stake of 12.9% in Xerox as of Sept. 9, had also built a sizable stake in HP around the time Xerox reached out to it for a merger.

On Aug. 5, GuruFocus reported that Carl Icahn increased his stake in Xerox by 7.73%. The guru invested in 1.8 million shares of Xerox, impacting the equity portfolio by 0.16%. The stock traded for an average price of $16.12 on the day of the transaction.

HP Inc rebuffed Xerox’s initial offers and Xerox went hostile with its bid but ultimately gave up the pursuit in March due to the coronavirus pandemic.

More background information at:

Icahn dissolved his shared share stake in HP as of the end of June, as per filings with the U.S. Securities and Exchange Commission.



Please leave your comments to the story “Carl Icahn Invests More in Xerox” below.

0 replies

Leave a Comment

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *