Icahn't get right Xerox Fuji merger spoils, cries activist investor Carl Activist investor Carl Icahn is ranting that Fujifilm's zero-sum acquisition of photocopier biz Xerox leaves him as a "passive minority owner of a Fuji subsidiary". The takeover deal, valued at $6.1bn, came about through a complicated series of purchases of a Fuji-Xerox joint venture resulting in the JV buying out Fuji's stake …
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This post has been deleted by its author
Complex financial shenanigans like this are rarely in the interest of the shareholders long term. Generally these types of moves are more about satisfying the career ambitions of the CEO, or a cunning plan to affect the short term stock price for options maturing.
I don't know the details of this one, and it could be a great idea, but I'd be shocked if it works out well in the long term
"I don't know the details of this one, and it could be a great idea, but I'd be shocked if it works out well in the long term"
And if I had ever heard of an Icahn deal that worked for the long term, I can't remember it now. He's always been about seizing control, stripping the corporate assets of every salable bit imaginable and leaving behind a burned-out husk with screwed-over employees and pensioners.
He's just pissed because either:
A -- This plan will work out, leaving him a minority player with no way to make his usual quick strip-mining operation work, or;
B -- They saw him coming and beat him with his own con.
That Xerox took an alternate route to Icahn's typical vulture-capitalist tactic of sell-off-the-good-stuff for a quick stock bump then turn out the lights, ignoring His Learned Advice (ptui), has tarnished his street cred as a great investor. Couldn't happen to a better person. He's burned enough companies to the ground for a quick buck, about time someone told him to p* off & figured out a long-term solution without him.
Has he EVER bought shares at IPO etc. Isn't he simply a speculator and sometimes an asset stripper.
Of what benefit to the actual business is Icahn's purchase of already existing shares?
Of course he's unhappy, Xerox and Fuji would be mad to structure things purely to enrich speculators.
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