WSJ: Icahn, Deason Call On Xerox To Explore Options, Incl. Sale, CEO Termination

(RTTNews) - Xerox Corp.'s (XRX) first- and third-biggest investors, billionaires Carl Icahn and Darwin Deason, have formed an alliance and plan to encourage the printer and copier giant to explore a potential sale, the Wall Street Journal reported citing people familiar with the matter.

Messrs. Icahn and Deason plan to call on the company to explore strategic alternatives, which could include a sale or other transaction, to break its joint venture with Fujifilm Holdings Corp., and immediately fire chief executive Jeff Jacobson, the report said.

The Wall Street Journal reported this month that Fujifilm and Xerox are discussing a range of potential deals that could include a change of control of Xerox, though not a full sale. Xerox just a year ago split itself in two, spinning off its business-services unit into Conduent Inc.

"The Xerox board of directors and management are confident with the strategic direction in which the company is heading and we will continue to take action to achieve our common goal of creating value for all Xerox shareholders," a company spokesman reportedly said Sunday.