The first and third biggest shareholders in Xerox have teamed up and want the document company to explore a potential sale.
The Wall Street Journal quotes “sources familiar with the matter” in its story that says billionaires Carl Icahn and Darwin Deason have formed an alliance to demand changes at Xerox. Together, they control 15 percent of the company’s stock. The sources say Icahn and Deason plan to call on the company to explore breaking up its joint venture with Fujifilm and to fire CEO Jeff Jacobson.
Xerox split itself in half a year ago, with Xerox keeping the document technology business and the business services division becoming Conduent.
The Xerox board said over the weekend it’s confident with the company’s strategic direction and will stay the course.