Xerox Has Suffered From Poor Management For Many Years: Carl IcahnVW Staff
Carl Icahn, leader of Icahn Enterprises (IEP), has returned in force to activist investing. Since his resignation as an advisor to President Trump, he has been on an activist binger.
Icahn has been fighting a war against Xerox (XRX) management, which he is currently winning, and is now teaming up with another activist to take on Energen (EGN). Currently, Icahn and Keith Meister own 2 million shares of the company with the option to buy another 2 million. The guru believes Energen is undervalued and worth $100 per share. He argues the company should be merged with another energy company to unlock value for shareholders.
During the interview, Icahn also discussed his recent win against Xerox management, in which he gained a board seat and established a new CEO. Icahn believes the company has suffered from bad management for years and looks forward to seeing value unlocked for shareholders.
Xerox has suffered from poor management for many years: Carl Icahn
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Investor Carl Icahn discusses his decision to team up Keith Meister of Corvex and purchase 2 million shares of stock in Energen from Corvex with an option to purchase another 2 million.
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Carl Icahn on his latest investments
CNBC’s Scott Wapner speaks with Carl Icahn about his latest investments in Energen, Xerox and VMWare, a subsidiary of Dell Technologies.