Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Carl Icahn boosts Xerox stake to over 14%

Published 11/05/2020, 05:26 PM
Updated 11/05/2020, 05:30 PM
© Reuters. FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York

(Reuters) - Billionaire activist investor Carl Icahn raised his stake in U.S. printer maker Xerox Holdings Corp (N:XRX) to about 14.4% as of Nov. 5, according to a filing https://www.sec.gov/Archives/edgar/data/921669/000092846420000070/xrxsc13da11052020.htm, months after he backed the company's abandoned takeover of personal computer maker HP Inc (N:HPQ).

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.

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.

© Reuters. FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.