Icahn takes stake in Xerox

(Reuters) - Activist investor Carl Icahn has taken a 7.13 percent stake in Xerox Corp , making him the second largest shareholder of the printer and copier maker.

The company's shares, which Icahn said were "undervalued", rose 7.6 percent in extended trading.

Icahn said in a securities filing that he intends to discuss improving operational performance, pursuing strategic alternatives and the possibility of board representation. (http://1.usa.gov/1Xacd5o)

Xerox said in October it would review its businesses and capital allocation options, but was not currently considering a sale.

The company has already gone through a bit of restructuring over the past several quarters, but the stock is yet to respond to efforts to turn around the 109-year old brand.

 

Vanguard Group Inc, with an 8.37 percent stake, is currently Xerox's largest shareholder, according to Thomson Reuters data.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Anil D'Silva)