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The Wall Street Journal: Investors Icahn, Deason want Xerox to fire CEO, explore sale

Xerox Corp.’s first- and third-biggest investors, billionaires Carl Icahn and Darwin Deason, have formed an alliance and plan to encourage the printer and copier giant to explore a potential sale, according to people familiar with the matter.

The two investors, who together control more than 15% of Xerox’s shares XRX, +1.37% , had already been separately calling for changes at the Norwalk, Conn., company on slightly different topics, but this would be the first time either has come out publicly for a potential sale.

The fact that they are working together and own such a big stake is sure to ratchet up the pressure on a company that is grappling with slumping demand as the world becomes more digital — and is already considering a major transaction.

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