Home Banking & Finance Carl Icahn ups ownership stake in Xerox

Carl Icahn ups ownership stake in Xerox

Activist investor Carl Icahn solidified his standing as the largest shareholder in Xerox Holdings Corp. while dumping his holdings in HP Inc. in the wake of Xerox’s failed takeover attempt of the printer company.

Xerox HP Carl Icahn

According to a 13D regulatory filing with the U.S. Securities and Exchange Commission, Icahn Capital Management acquired 725,935 shares in the Norwalk-headquartered Xerox, which puts his ownership stake at 12.82%. At the same time, Icahn dumped his roughly 63 million shares in HP, worth approximately $1.1 billion.

Earlier this year, Icahn acquired a 4.2% share in HP when Xerox was attempting a hostile takeover of the company. Icahn had briefly raised the possibility that he would buy HP directly if Xerox could not close the deal. Xerox cited the economic turmoil of the Covid-19 pandemic as its chief reason for terminating its pursuit of HP.

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.


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