Billionaire Carl Icahn, buys $ 1.2 billion in HP, encourages company to accept Ferrox offer
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We have already informed you that Ferrox wants to buy HP Inc. for $ 27 billion, the Potential Deal continues to be one of the most discussed topics in the industry. Now we have learned that billionaire and big investor Carl Icahn is seeking acquisition.
According to the Wall Street Journal, it acquired $ 1.2 billion worth of HP stock. The reason for this investment is that Carl Icahn believes the transaction will generate a significant return on shareholders.
It currently holds a 10.6% stake in Xerox and, after its latest investment, owns 4.24% of HP’s stock, with an exact number of 62.9 million. Carl Icahn believes that merging the businesses of the two companies is the best option for their future.
This deal will bring positive benefits in the long run for both Xerox and HP. Consumers will have access to a more balanced portfolio, and HP and Xerox will also cut operating costs.
In his statement, Carl Icahn added that he himself was a supporter of the merger of big businesses. We remind you that Xerox’s offer to buy HP Inc. is worth $ 33 billion and includes cash payments as well as share offerings.
Talks between the two companies continue. Carl Icahn said his team had been working with HP since the beginning of the year, and the purchase of shares took place between April and August.
Billionaire Carl Ican, buys $ 1.2 billion in HP, encourages company to accept Ferrox offer