Icahn Discloses 7.13% Stake In Xerox, May Seek Board Seats

(RTTNews) - Activist investor Carl Icahn disclosed in regulatory filing that he has accumulated a 7.13% stake in Xerox Corp. (XRX), saying that the company is undervalued and he may seek board seats.

Icahn noted that he intends to have discussions with representatives of the company's management and board of directors relating to improving operational performance and pursuing strategic alternatives, as well as the possibility of board representation.

Icahn's disclosure comes a month after Xerox said it would launch a review of its business.

XRX closed Monday trading at $10.75, up $0.29 or 2.77%. In after hours, the stock further gained $0.76 or 7.07%.