Carl Icahn sued over HP/Xerox deal
Illustration: Sarah Grillo/Axios
A firefighters pension fund in Florida filed a lawsuit on Friday against billionaire investor Carl Icahn over allegations that he bought $1.2 billion of stock in HP after learning that Xerox Corp. wanted to buy HP at a premium, per Bloomberg.
Why it matters: Icahn already was Xerox's largest shareholder, with an 11% stake, and now is HP's fifth-largest shareholder. Xerox offered to buy HP for $33.5 billion, but was rebuffed and now plans to go hostile.
Go deeper: HP rejects Xerox takeover offer