Tagged With "Carl"

this thing is now getting stupid

The plot thickens!

Job well done to make $23 million US dollars. How many lost employees did it take to make that happen? I don;t know how many Xerox copiers were manufactured in 2018. Could it have been 100K? If so John V made $280 on every unit sold. Not a bad gig

The XEROX/HP saga playing out is proving that many can't see past what's in front of them and have limited imagination to assist them in discovering how things could be, based on how things should be. It has been a few months since Xerox took the bold action and beat HP to the table in a merger discussion. BUT XEROX IS TOO SMALL TO BUY- THE GREAT BIG HP!! Say those looking with no imagination. Yes, HP should have approached Xerox. HP having three times the market cap acquiring the smaller...

“Anytime my imagination comes to life; it reminds me to imagine more.” So, it’s been a busy week in the print equipment and its services industry. I say, hang on because the speed of its disruption is going to increase. Thanks, Carl Icahn, for hopefully wakening the industry’s leaders to disrupt themselves. Throughout history, most industries were disrupted by outsiders. So, this move by Carl Icahn is welcomed by those insiders determined to kick the ass of the channel’s complacency and...

Activist investor Carl Icahn is pushing for the proposed union of Xerox Holdings Corp. and HP Inc., arguing that a combination of the printer makers could yield big profits for investors. Icahn, who owns a 10.6% stake in Norwalk, Conn.-based Xerox XRX, +2.79% , told The Wall Street Journal that he also owns a 4.24% stake in HP HPQ, +3.07% , valued at roughly $1.2 billion. His stake in HP, not previously reported, could increase pressure on the printer and personal-computer company to strike...

On Sunday, HP’s board of directors nixed Xerox’s recent offer that lit up the printer copier market with buzz during the last two weeks as the legacy behemoths mulled coming together. HP said it was not tossing out the idea of the two giants merging at some point, but it was saying no to this Xerox offer. “We recognize the potential benefits of consolidation, and we are open to exploring whether there is value to be created for HP shareholders through a potential combination with Xerox,”...

I've never had the chance to meet Carl Little in person, however Carl has been a long time member of the Print4Pay Hotel. Over the years I've been able to glean valuable knowledge from Carl with his posts on our forums. At the end of the blog we'll have the LinkedIn profile for Carl if you'd like to reach out to him. You could also post a response here if you like. How did you find your way to the copier industry? After graduating college in 1974 from a small college in Kansas & playing...

Seems Xerox dodged another bullet here. (Reuters) - New York State Supreme Court Justice Barry Ostrager of Manhattan is not afraid to stir things up. In April 2018, you may recall, the judge – previously a longtime litigation partner at Simpson Thacher & Bartlett – issued a preliminary injunction to block Xerox from allowing a shareholder vote on a proposed merger with Fuji, holding that the deal was hopelessly tainted by Xerox board members’ conflicts. Justice Ostrager’s decision was...

A Xerox Holdings Corp. shareholder sued Carl Icahn and an investment vehicle he controls, alleging they bought $1.2 billion worth of HP Inc. shares knowing that Xerox was considering acquiring the stock at a premium. The Miami Firefighters Relief and Pension Fund filed the lawsuit in New York state court in Manhattan on Friday, alleging Icahn, Icahn Capital LP and High River Limited Partnership breached their fiduciary duties to Xerox read the rest here

Carl Icahn posted an open letter to HP shareholders Wednesday morning, trying to pressure the board of the computer and printer company to reverse its rejection of the $22-a-share bid for the company from Xerox. The activist investor is a substantial holder in both companies and sits on the Xerox board. In the letter, Icahn attacks HP management’s “unreasonable refusal to engage in a customary mutual due diligence process”. He goes on to position the discussion as a matter of fiduciary...

New York, New York, December 4, 2019 — Today, Carl C. Icahn released the following open letter to shareholders of HP Inc. December 4, 2019 Dear Fellow HP Shareholders, I beneficially own 23,456,087 common shares of Xerox Holdings Corporation, constituting approximately 10.85% of the outstanding shares, and 62,902,970 common shares of HP Inc., constituting approximately 4.24% of the outstanding shares. These holdings place me among the largest shareholders of each company and I, as well as...

TOKYO -- U.S. office equipment maker Xerox scrapped plans to be bought by Japanese partner Fujifilm Holdings amid a steady drumbeat of criticism from shareholder Carl Icahn, in what amounts to a stinging defeat for Fujifilm CEO Shigetaka Komori. Under an agreement with activist investors Icahn and Darwin Deason announced on Sunday, six Xerox board members resigned and were replaced by five new directors more closely aligned with Icahn. The departing board members include CEO Jeff Jacobson, a...

NEW YORK -- After saying a few months ago that Xerox risked meeting Eastman Kodak's fate, activist investor Carl Icahn is now warning shareholders that a proposed takeover by Japan's Fujifilm could lead to bankruptcy. In a written response to questions from Nikkei on Monday, Xerox's largest individual shareholder said it was "absurd" for Xerox shareholders to accept the current offer to merge the U.S. company into existing joint venture Fuji Xerox. "Based on the ongoing accounting scandal...

Xerox CEO John Visentin’s total compensation for his first year with the company topped $23 million in a mix of base salary, bonus awards, and stock options, the company disclosed in a regulatory filing. The company’s compensation committee is asking shareholders to approve that total pay, as well as a projected $13 million in 2019 compensation in an advisory vote. “During 2018, the Company conducted hundreds of calls and meetings with individual shareholders, and we received virtually no...

Xerox to be acquired by HP Inc.? Article published Seeking Alpha magazine Two Xerox directors, Chairman Keith Cozza and Cheryl Krongard announced they are leaving the board of directors “may be an attractive investment for traders looking for a possible takeover target “Xerox is a potential takeover target and HP Inc. might an interesting suitor” Xerox used $888 million to buy back its own shares in 2021, but current stock price is about 8 points lower now than it was the same day last year...

Xerox shareholder lawsuit to proceed The Supreme Court of New York ruled on 1/6/2023 that it has dismissed motions to dismiss lawsuit originally filed in 12/2019 against Xerox Xerox shareholders, led by Stephen J. Reynolds, filed a lawsuit against Carl Icahn, the majority shareholder of Xerox Alleges that Carl Icahn had “unjust enrichment”, breach of fiduciary duty and breach of contract”, after he purchased $1.2 billion shares of HP, and then announced that he would have Xerox buy HP. In...

Xerox’s top shareholder gets “breathing room” Article published in The Wall Street Journal about Carl Icahn and his controlling shares of Xerox In order to get “breathing room from lenders following a short-seller attack”, Carl Icahn and banks finalized amended loan agreements Unties his personal loans from the trading price of his Xerox shares Icahn’s shares have “tumbled 43%” this year New agreements increase Icahn’s collateral and setup a plan for him to fully repay the loans in 3 years...

Xerox buys out Carl Icahn what’s next? - Corporate raider, Carl Icahn, has over time, bought controlling interest in Xerox by spending almost $588 million on stock in the company according to Insider Trades newsletter Xerox announced it will borrow money to pay $542 million to buy all this stock back in a press release All of Carl Icahn’s staff will resign from the Xerox board of directors Icahn acquired the shares and stopped Fujifilm from acquiring Xerox in 2018, and attempted to arrange a...

Xerox secured a $550m first lien term loan after buying Carl Icahn's shares. The loan repays previous bridge loans and is supported by guarantees and asset security. Major financial institutions arranged the loan, with terms until November 2029 and variable amortization rates. Xerox's $542m purchase of Icahn's shares was initially financed through a new debt facility. Xerox shares varied from $16.01 in September to a low of $12.10 in late October, recently closing at $13.62. Xerox skipped...