Friday, January 29, 2016

Xerox to Split in Two; Carl Icahn to Get Three Board Seats - WSJ

Perhaps time for a revised edition of Fumbling the Future

"As part of the move, billionaire Mr. Icahn will get three seats on the services company’s board, the people said. Mr. Icahn in November disclosed a stake in Xerox and said he would seek talks with the company about its future. With an 8.1% stake in the company, Mr. Icahn’s hedge fund is now the second-largest shareholder after index giant Vanguard Group.

Xerox, which generates about $20 billion in annual sales, has a market value that is less than half its annual sales. The shares lost a quarter of their value last year and have shed an additional 13% so far this year, ending Thursday at $9.23."
Xerox to Split in Two; Carl Icahn to Get Three Board Seats - WSJ
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