Xerox pops after activist investors push for its sale

  • Shares of Xerox climbed on Monday before the bell after news that activist investors are pushing for a potential sale of the 111-year-old company.
  • Billionaires Carl Icahn and Darwin Deason, who are Xerox’s biggest and third-biggest shareholders respectively, have banded together to push for the change, according to the Wall Street Journal. Collectively, they hold around 15% of Xerox’s shares.
  • There have also been talks that investors are pushing to break Xerox’s joint venture with Fujifilm Holdings that sells printers and copiers to the Asia-Pacific region.
  • Icahn has also asked for changes to management and the addition of four new board members. He submitted four nominations to the company’s board of directors in December.
  • Shares of Xerox moved up as much as 4% to $US32.62 on Monday morning. It was up 8.26% for the year.
  • See Xerox’s current stock price move in real time here.

Read more about how companies like Snap are planning to make a turnaround despite a slumping share price.

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