LONDON: Billionaire activist investor Carl Icahn raised his stake in US printer maker Xerox Holdings Corp to about 14.4 per cent as of Nov 5, according to a filing, months after he backed the company's abandoned takeover of personal computer maker HP.
Xerox's shares rose 3.4 per cent in extended trading on the news.
Icahn, who last reported a stake of 12.9 per cent in Xerox as of Sep 9, had also built a sizable stake in HP around the time Xerox reached out to it for a merger.
HP Inc rebuffed Xerox's initial offers and Xerox went hostile with its bid but ultimately gave up the pursuit in March due to the coronavirus pandemic.
Icahn dissolved his shared share stake in HP as of the end of June, as per filings with the US Securities and Exchange Commission.