Icahn owns 4.24% stake in HP, pushes Xerox merger

Thursday, 14. November 2019 05:23

American billionaire Carl Icahn (pictured) claimed he owns a 4.24% stake in the Hewlett-Packard Company (HP), the Wall Street Journal (WSJ) reported on Wednesday. He stressed that the company's eventual merger with Xerox Holdings should be a "no-brainer" as Xerox previously offered to purchase HP for $33 billion, or $22 per share. Icahn is a shareholder in the Connecticut-based company as well, owning a 10.6% stake.

"I think a combination is a no-brainer. I believe very strongly in the synergies. there will probably be a choice between cash and stock and I would much rather have the stock, assuming there’s a good management team," Icahn told WSJ, adding the tie-up would be beneficial for both firms as the cost-cutting potential may increase significantly.

Previously, Xerox decided to terminate the venture with Japanese Fujifilm and sell its 25% share in Fuji Xerox for $2.2 billion after the two companies failed to agree on merging.

Related Links: Hewlett Packard Enterprise CompanyXerox Corp.
Author:
Breaking the News / GA