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 $32.62 on Monday morning. It was up 8.26% for the year.
See Xerox’s current stock price move in real time here.
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Source:: Businessinsider – Technology
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