Under Pressure from Activist Investor Carl Icahn, Xerox Plans a Spinoff this Year

.

Under Pressure from Activist Investor Carl Icahn,  Xerox Plans a Spinoff

Under pressure from influential investors many of the American corporate are spinning off their businesses and this time it's Xerox.

Reportedly, Xerox, the name synonymous to office copiers, decided to spin off its services business from the legacy hardware section. The process is expected to be completed by this year's end.

According to sources, a major part of the spinoff will include Affiliated Computer Services, an outsourcing company which was bought by Xerox in 2010 in a $6.4 billion deal. Rest of the company will maintain its focus on what it is best known for, that's its key office supply products like copiers, fax machines and scanners.

Behind this spinoff plan there is Carl C. Icahn, the activist investor who succeeded in campaigning for spinning off PayPal from eBay in 2015.

It's expected that the plan will be made public on Friday when Xerox is scheduled to report its fourth-quarter financial report.

With the spinoff in the cards, Xerox will join the list of many other companied that have faced investor pressure and separated their businesses. In September, Alcoa announced it would split its commodities business from the metal products business. In 2014, Hewlett- Packard also decided to split.


Latest News

Although Scientists say GMOs are Safe to Eat But it is Not Easy to Convince Ever
Central States Pension Fund has No New Recovery Plan Seeks Legislation to Protec
Does Fewer Opioid Prescriptions in the U.S Reflect a Curb in the Wave of Addicti
Japan’s Exports Drop further in April adding to a Gloomy Outlook
The Long Drawn Battle for Control Over Sumner Redstone’s Trust Takes New Turn
April Payrolls Reflect Significant Increases in Eleven US States
Bids for Yahoo may Not Match Earlier Expectations
Tribune Publishing and Garnet Company Carry on with Takeover Battle
Oregon Governor asks glass firm to halt production amid pollution concerns
G7 finance ministers to meet on Friday
Bayer AG makes unsolicited offer for Monsanto