Deals
Xerox Said to Split in Two; Icahn Gets Board Seats, WSJ Says
- Company has been conducting review of structural options
- Essentially unravels Xerox's largest acquisition of Affiliated
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Xerox Corp. will announce Friday that it’s splitting itself into two companies, essentially unwinding its largest-ever acquisition, the Wall Street Journal reported, citing unnamed people familiar with the matter.
Famous as the brand behind the copy machine, the now-struggling Xerox will divide itself into a company grouping its hardware operations and another that will house its services business, according to the Journal. Xerox will announce the move when it reports earnings Friday, the newspaper said. Carl Icahn will be given three board seats on the services company’s board, according to the Journal.