11 May 2022
Xerox Makes a Loss and Carl Icahn Increases Ownership to 22%
ROCHESTER . NEW YORK—
Carl Icahn increases stake to 22% . Raises questions about take over bid .
Carl Icahn increases stake to 22% . Raises questions about take over bid .
 Xerox posted a net loss of $56 million, for the quarter, after earnings of $39 million, in the year-earlier period. Revenue fell to $1.668 billion from $1.710 billion a year ago. Activist investor Carl Icahn has upped his stake in Xerox after its share price fell sharply last week. Activist investor Carl Icahn has upped his stake in Xerox after its share price fell sharply last week. His purchase raises his stake to around 22% of the company.
 
Now faces former partner FjuiFilm as major competitor
Now faces former partner FjuiFilm as major competitor
Chief Executive John Visentin said it was an "increasingly volatile operation environment." "Broad-based inflationary pressure and increased logistics costs from supply chain disruption resulted in an operating loss, but we expect to offset most of these cost increases over time with price actions.Wall Street rumours persist that Xerox could be subject to another takeover bid. 
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