Open Letter to Xerox Shareholders from Carl Icahn and Darwin Deason

The following appears on

  • Xerox’s Two Largest Individual Shareholders Confirm Expiration of Previously Announced Settlement Agreement 
  • Xerox Board Commits Additional Intentional Breaches of Fiduciary Duties
  • Call for Xerox Board to Terminate Proposed Transaction with Fuji, Hire John Visentin as CEO and Resign as Directors

New York, New York, May 4, 2018 – Today Carl Icahn and Darwin Deason released the following open letter to shareholders of Xerox Corporation (NYSE: XRX):

Fellow Shareholders:

At 8:00 pm ET on Thursday night, the settlement agreement we entered into with Xerox and a unanimous Xerox Board earlier this week expired without the Xerox Board permitting the agreement to take effect, once again intentionally violating their fiduciary duties to Xerox shareholders by pursuing their own brazen self-interest.

This occurred just 48 hours after Xerox issued a press release that included the following unanimous statement from the Xerox Board:

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