back to article 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 …

  1. Anonymous Coward
    Anonymous Coward

    My heart bleeds... Not!

    1. Arthur the cat Silver badge

      My heart bleeds... Not!

      As Oscar Wilde remarked, you'd have to have a heart of stone not to laugh.

  2. Anonymous Coward
    Anonymous Coward

    Oh shame....

    ...<sniggers>

  3. This post has been deleted by its author

  4. Anonymous Coward
    Anonymous Coward

    Looks like Xerox has just told him to sod off:

    https://finance.yahoo.com/news/xerox-responds-carl-icahn-darwin-130000498.html

  5. FIA

    You mean The value of your investments can go down as well as up doesn't just apply to the little people?

    1. This post has been deleted by its author

  6. Doctor Syntax Silver badge

    Sadly, it's not all good news: "Fujifilm has already announced that it is sacking 10,000 workers at Fuji-Xerox"

  7. Glad Im Done with IT

    One way of effectivly dealing with Icahn

    Looks like the board of Xerox managed to deal with him before he stuffed the business up and inserted his cronies.

    1. Pascal Monett Silver badge

      And now he's whining like the spoiled brat he is.

      I have never ever heard of that guy unless it was in some shareholder scandal that he's in the middle of. This bag of hot air is one of the most toxic useless people on this planet.

      1. Mark 85 Silver badge

        If one goes back and looks at what he did to TWA, you'll find all you need to know. He made promises and then sold the company and employees down the river. He is toxic and only in it for himself. Anything else he says... pure, unadulterated BS.

  8. kain preacher Silver badge

    Is it wrong that I want ichan to hurt ?

    1. Steve the Cynic Silver badge

      Nope. It would be wrong to want anything less than that.

    2. Anonymous Coward
      Anonymous Coward

      Not at all!

    3. jelabarre59 Silver badge

      Is it wrong that I want ichan to hurt ?

      Well, Ichan understand where you're coming from...

  9. IHateWearingATie

    Just because he's a git, doesn't mean he's wrong

    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

    1. Mike Moyle Silver badge

      Re: Just because he's a git, doesn't mean he's wrong

      "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.

  10. colinb

    i like it

    The financial engineering equivalent of

    Xeroxing your butt to your boss

  11. Robert Halloran

    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.

  12. Alister Silver badge

    you didn't go with

    Icahn't get no... satisfaction...

  13. a_yank_lurker Silver badge

    Dear Carl

    Sod off swampy.

    Signed,

    the Boards of Fuji and Xerox.

    Since Fuji is a Japanese company, Icahn't will have to obey Japanese security laws not US. Plus he is a much smaller fish in a much large pond.

  14. Mage Silver badge
    Pirate

    Activist investor Carl Icahn

    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.

    1. Mark 85 Silver badge

      Re: Activist investor Carl Icahn

      Not "sometimes an asset stripper". Think more like a vulture. If the company is having problems, he'll show up, proclaim he's there to help, and the company is doomed.

      1. Wilhelm Lindt

        Re: Activist investor Carl Icahn

        This seems like the wrong website to use "vulture" to mean something bad...

      2. Anonymous Coward
        Anonymous Coward

        Re: Activist investor Carl Icahn

        If the company is having problems, he'll show up, proclaim he's there to help, and the company is doomed.

        And he hasn't bought IBM yet? Or did he figure they were already screwing themselves over perfectly well on their own?

  15. James Anderson

    Great brand names .... No products

    Seriously if they were such a good investor why did he end up owning 15% of Xerox. Once the photo copier and printer patents ran out they were had nothing to replace the golden goose.

    Should have sued apple for plagiarising there gui operating system....

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