Icahn Sells Remaining Xerox Stake
Billionaire investor Carl Icahn has sold his remaining 542 million shares of Xerox Corporation back to the company. The sale marks the end of Icahn’s involvement with the company, which began in 2018 when he acquired a 10.6% stake.
Icahn’s Involvement with Xerox
Icahn’s involvement with Xerox began in 2018 when he acquired a 10.6% stake in the company. He then proceeded to push for a merger between Xerox and HP Inc., a move that was ultimately blocked by a Delaware court. Icahn then increased his stake in the company to 11.2%, and he continued to push for a merger with HP.
In 2019, Icahn sold a portion of his stake in Xerox to Fujifilm Holdings Corp. for $2.3 billion. He then sold another portion of his stake in 2020 for $1.2 billion.
Xerox’s Recent Performance
Xerox has seen a resurgence in recent years, with its stock price more than doubling since 2018. The company has also seen strong growth in its revenue and profits, and it has been able to reduce its debt.
Xerox has also been able to expand its product portfolio, launching new products such as its VersaLink and AltaLink printers. The company has also been able to expand its services business, which now accounts for more than half of its revenue.
Icahn’s Recent Investment Activity
Icahn has been active in the markets in recent years, investing in a variety of companies. He has taken stakes in companies such as Apple, eBay, and PayPal, and he has also invested in a number of energy companies.
Icahn has also been active in the real estate market, investing in a number of properties in the United States and abroad. He has also been involved in a number of mergers and acquisitions, including the acquisition of a majority stake in the oil and gas company Occidental Petroleum.
The Sale of Icahn’s Xerox Stake
Icahn has now sold his remaining 542 million shares of Xerox back to the company. The sale marks the end of Icahn’s involvement with the company, which began in 2018 when he acquired a 10.6% stake.
The sale of Icahn’s stake in Xerox is a sign of the company’s success in recent years. The company has seen strong growth in its revenue and profits, and it has been able to reduce its debt. It has also been able to expand its product portfolio and services business, and it has seen its stock price more than double since 2018.
The Future of Xerox
Xerox is well-positioned for future growth, and the company is continuing to invest in new products and services. The company is also continuing to focus on reducing its debt and expanding its product portfolio.
The sale of Icahn’s stake in Xerox is a sign of the company’s success in recent years, and it is a sign of the company’s potential for future growth. With its strong financial position and its focus on innovation, Xerox is well-positioned to continue to grow and succeed in the years to come.