XRX - Icahn could push for Xerox to explore options after CEO death - report

• Activist Carl Icahn and large holder Darwin Deason could renew efforts for Xerox ( NASDAQ: XRX ) to explore options following the death of CEO John Visentin and the company's continued stock decline.
• Icahn owns a 22% stake and Deason owns under under 10% of XRX, including preferred shares. The investors could try to push for the company to explore options such as a sale of the company or a divestiture of the company's financing unit, Dealreporter speculated in it's "morning flash" piece earlier.
• Icahn and Deason teamed up in 2018 for a proxy fight against Xerox ( XRX ) and installed Visentin as CEO as part of their efforts.
• Dealreporter highlighted that some bonus grants for executives earlier this year had the publication thinking that potentially the XRX was considering a breakup.  The item also pointed out that Xerox announced Wednesday that COO Steve Bandrowczak was tapped as interim CEO following Visentin's death, though there was no mention of search for a new permanent CEO.
• Xerox shares fell 2.5% and have plunged 38% over the past year.
• Also see SA contributor Individual Trader's piece entitled "Xerox: Dividend Investors Need To Start Looking Beyond The 5%+ Yield."

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