Hedge Funds Carl Icahn

  • Xerox recently raised its offer earlier this month by $2 to $24 per share, following several rejections of its previous buyout offers by the PC maker. HP shares closed up 0.9% at $22.64 on Thursday and were flat in extended trading. "The value of a year-long poison pill is to buy HP time to explore other offers," said Gene Munster, managing partner at Loup Ventures.

  • Feb 16- U.S. printer maker Xerox Holdings Corp is hosting a dinner for HP Inc shareholders this week as it seeks investor support to overcome the personal computer maker's resistance to its $35 billion takeover bid, according to people familiar with the matter. The charm offensive comes after Xerox raised its cash-and-stock bid for HP last week by $2 to $24 per...

  • Feb 10- Xerox Holdings Corp raised its offer to buy HP Inc to $24 per share from $22 per share on Monday, following several rejections of its previous buyout offer by the PC maker. The latest offer comprises $18.40 in cash and 0.149 Xerox shares for each HP share, valuing the company at about $35 billion. In December, activist investor Carl Icahn, who has a 4.2% stake in...

  • Jan 28- Xerox Holdings Corp on Tuesday posted a better-than-expected quarterly profit as it kept a tight lid on costs and said it plans to follow through with its $33 billion bid to buy rival HP Inc.. Xerox, which has been facing a slowdown in demand as businesses cut down on printing their paperwork, has laid out a three-year cost-cutting plan under Chief...

  • Jan 23- Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc's board, seeking to take control of the personal computer maker after several rejections of its $33.5 billion buyout offer. "HP shareholders have told us they believe our acquisition proposal will bring tremendous value, which is why we lined up $24 billion in...

  • Jan 23- Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc's board, seeking to take control of the personal computer maker after several rejections of its $33.5 billion buyout offer. "HP shareholders have told us they believe our acquisition proposal will bring tremendous value, which is why we lined up $24 billion in...

  • Jan 23- Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc's board, setting the stage for a proxy fight after the personal computer maker rebuffed its $33.5 billion takeover offer. The candidates include Kim Fennebresque, former CEO of Cowen Group, and Jacob Katz, former chairman of Grant Thornton.

  • Jan 21- Xerox Holdings Corp is preparing to nominate as many as 11 directors to HP Inc's board, the Wall Street Journal reported on Tuesday, as the company seeks to push its $33.5 billion takeover offer for the personal computer maker. In November last year, Xerox made the $33.5 billion cash-and-stock offer to HP, a company more than three times its size.

  • HOUSTON, Jan 8- Occidental Petroleum Corp said on Wednesday it would begin dismissing workers in a new cost-cutting move following its $38 billion acquisition of Anadarko Petroleum. The company has already "significantly" cut staff through a voluntary program, spokeswoman Melissa Schoeb said in an email. It reported a third-quarter net loss of $912 million...

  • HOUSTON, Jan 8- Occidental Petroleum Corp has reduced its workforce "significantly" following the acquisition last year of rival Anadarko Petroleum, the company said on Wednesday. The company has started cutting jobs after it trimmed staff through a voluntary program, spokeswoman Melissa Schoeb said in an email to Reuters, without providing figures.

  • Jan 8- HP Inc said on Wednesday that Xerox Holdings Corp securing financing for its $33.5 billion takeover offer for the personal computer maker is not a basis for a discussion and reiterated that the proposal still undervalues the company. Xerox had offered HP shareholders $22 per share, involving $17 in cash and 0.137 Xerox share for each HP share, according to...

  • Jan 6- Occidental Petroleum Corp said on Monday it would cut its majority stake in pipeline operator Western Midstream Partners LP to less than 50% in 2020, to reduce its debt that grew significantly with the Anadarko Petroleum Corp deal. Occidental's shares rose about 4% on the news, having lost over 30% in value since the $38- billion offer for Anadarko was...

  • Jan 6- Xerox Holdings Corp said on Monday it has secured $24 billion in financing for its $33.5 billion takeover offer for HP Inc, a deal that the personal computer maker is opposing. Xerox has engaged in "constructive dialogue" with many of HP's largest shareholders, the company's chief executive officer, John Visentin, said in a letter addressed to HP's board on...

  • Dec 4- Activist investor Carl Icahn on Wednesday urged the shareholders of HP Inc who agree with the merger with Xerox Holdings Corp to reach out to the personal computer maker's directors for immediate action. Icahn, who has 10.85% stake in Xerox and 4.24% in HP, said the combination could yield over $2 billion in cost savings. Xerox made the $33.5 billion...

  • Dec 4- Activist investor Carl Icahn on Wednesday urged HP Inc's shareholders, who agree with the merger with Xerox Holdings Corp, to reach out to the personal computer maker's directors for immediate action. "HP shareholders deserve the opportunity to decide for themselves whether a combination with Xerox makes sense before the idea is summarily rejected by...

  • Nov 25- EBay Inc will sell ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash, the companies said on Monday, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses. In January, activist investors Elliott Management Corp and Starboard Value had urged eBay to sell its...

  • Nov 21- Xerox Corp on Thursday threatened to take its $33.5 billion buyout bid for HP Inc hostile, if the personal computer maker did not agree to a "friendly" discussion and open its books before Nov. 25. HP on Sunday rejected Xerox's offer of $22 per share, saying it undervalued the company, and that it was open to exploring its own bid for the U.S. printer maker.

  • Nov 21- Xerox Corp on Thursday threatened to take its $33.5 billion buyout bid for HP Inc hostile, if the personal computer maker did not agree to a "friendly" discussion and open its books before Nov. 25. HP on Sunday rejected Xerox's offer of $22 per share, saying it undervalued the company, and that it was open to exploring its own bid for the U.S. printer maker.

  • Nov 17- HP Inc said on Sunday it was open to exploring a bid for U.S. printer maker Xerox Corp after rebuffing a $33.5 billion cash-and-stock acquisition offer from the latter as "significantly" undervaluing the personal computer maker. HP on Sunday published Xerox CEO John Visentin's Nov. 5 offer letter to HP, in which he stated that his company was "prepared to...

  • HOUSTON, Nov 14- Activist investor Carl Icahn will not have access to Occidental Petroleum Corp's Anadarko takeover records to support his proxy fight against the oil firm's board, a Delaware court judge ruled on Thursday. Icahn sued Occidental in Delaware Court of Chancery last May seeking financial records and details of its negotiations with Anadarko.