Xerox Investor Sues Icahn for Buying HP Shares While Knowing Xerox Bid Plans

By Andy Slawetsky – A Xerox investor has filed a lawsuit. The Miami Firefighters Relief and Pension Fund filed on Friday in NY State court.

The filing names Icahn Capital LP and High Road Limited Partnership. Icahn owns over 10% of Xerox stock and in late in Sept. Icahn disclosed Icahn Capital disclosed they had acquired over 4% of HP stock.

According to the filing published on Bloomberg as well as other news outlets,  “Xerox was either considering making an offer to purchase HP, had already approached HP about a possible merger into or acquisition by Xerox, or of the obvious merits of Xerox’s potential acquisition of HP.”

The saga has gone back and forth for several weeks now as Icahn has seemingly steered Xerox into a hostile takeover of HP as their initial offer was rebuffed.

SOURCE Industry Analysts Inc.


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