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UPDATE 3-Icahn, Deason join forces to demand Xerox explore options [Reuters]

XEROX (XRX)  More Company Research Source: Reuters
Last xerox earnings: 1/31 03:00 am Check Earnings Report
US:NYSE Investor Relations: news.xerox.com/investors
PDF Icahn, Deason join forces to demand Xerox explore options | Reuters 3 Min Read (Reuters) - Hedge fund managers Carl Icahn and Darwin Deason joined forces on Monday to push Xerox Corp ( XRX.N ) to explore strategic options, oust its “old guard”, including its CEO, and negotiate better terms for its decades-long deal with Japan’s Fujifilm. Icahn and Deason – respectively the No.1 and No.3 Xerox shareholders with a combined stake of over 15 percent – plan to nominate four board members if their demands were not met, they said in a joint letter to Xerox shareholders. Xerox shares were up 2.5 percent in late afternoon trading on Monday. Declining demand for office printing has limited prospects of the 50-year-old JV, which is 75 percent owned by Fujifilm Holdings Corp ( 4901.T ) and sells photocopy products and services in the Asia-Pacific region. Chief Executive Jeff Jacobson is “incapable” of leading Xerox or negotiating a better deal with Fujifilm, while the company’s veteran direct [Read more]

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