@3zlb+1mrBK0fH Just a nuance - there is no lawsuit in court, only a well-studied short position attack.
In short, an investment strategy that is based on speculating on the downside, waiting for Icahn Enterprises shares to plummet (as they have already done).
And I totally agree with the rest of your post, much more now that Icahn has just announced a quarterly dividend of $2 per share... we'll see where he gets the money to pay the dividend (which could well be from the sale of some assets in his portfolio, including Xerox).
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Xerox ….. Oink , Oink
Mr. Corporate raider has always seem to turn a profit ..It seems this time he has a big Xerox pig on his hands..
Icahn Enterprises LP stock has lost 40% of its value just this week due to lawsuit by Hindenberg Research claiming Icahn's business is essentially a Ponzi scheme.
Icahn may be in a bind now and need to sell his stake in XRX to stay afloat personally and also to pay for the legal battle with Hindenberg. Or, he may push for the board (basically controlled by his appointees) to approve a sale of the company, which could spike the stock price which helps him out even more. He also may have realized that he'll never see the $40/share he thought XRX would bring, which may also be the final straw that prevented him from wanting the company sold.
Plus, losing Fuji as a supplier will hurt the company. Sure, Lexmark has stepped in, but how well do they manufacture upper end A3? And who will provide the Production models?
Lots of reasons exist now for Icahn and others to want the company broken up and sold. Reasons that weren't there 2 years ago.
Some possible clues - or maybe coincidence?
PARC being given away may have been a precondition of a pending sale. The new buyer may not have wanted to deal with disposing it themselves.
During the Town Hall it was said that all of the advertising budget has been directed to just a few major markets in the US. Does this sound like a company that's doing well? It might have been done to try and boost the US presence for a potential buyer. Why not do the same for us in EMEA? Is the EMEA operation being sold? Or is the US? Or was that just a bad decision made by a small marketing team? Either way it was a strange announcement.
Let’s face it and our competitors would agree, someone has to go.
Cannon
Ricoh
Lexmark
Konica/Minolta
Fuji Xerox (yes check out their new line)
Xerox
HP
Way too many copier manufacturers to supply a flat/declining market.
Bet on a big one to fall , not be sold
What is left to sale …Outdated technology, dwindling customer base,
support functions outsourced, brand name gone .
On top of Parc, Xerox just announced a donation of dentures to the mid western techs since none of them have teeth. No more flapping their gums.
You guys are like children. Pension funding does not reside within Xerox. XRX has been for sale since JV screwed up the deal with Fuji and nobody bought it yet. What is there to sell?
Pensions will be provided in the form of scratch of lottery tickets, heard from multiple reliable sources.
Any idea what will happen to pensions that haven't been claimed yet?
Yes, expected date of sale is June 8th.