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US magnate buys seven percent of Xerox

November 26, 2015

Carl Icahn

Carl Icahn

US investor Carl Icahn purchased 7.13 percent of Xerox shares, after the company struggled in the third quarter.

Xerox posted revenue falls of $4.3 billion (€4 billion) for 3Q2015 compared to 3Q2014, CRN reported.

Icahn’s company, Icahn Capital, said it hopes to discuss with representatives from the OEM operational improvements and strategic alternatives, as well as the possibility of representation on the board.

79-year-old New Yorker Icahn made a bid to acquire Dell in July 2013, denouncing the company on Twitter during the takeover battle.

Dell CEO Michael Dell described him as “a bad guy” in an interview with CRN the following year. “He lies, he has no ethical boundaries, he’ll say anything, do anything, I have no time for him.”

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