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HP-Xerox Merger: Here Are The Top 5 Shared Investors In Both Firms

HP and Xerox share five of their top 10 investors, with notable companies such as Vanguard, State Street and BlackRock taking large positions in both.

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With Shared Investors, HP-Xerox Combo Is ‘More Likely’

Carl Icahn has dominated the conversation around HP and Xerox’s potential merger -- even before he published a letter Dec. 4 calling on HP investors to take “immediate action” to push it along – as one of the largest shareholders in each company.

But Icahn’s cash is not the only institutional money that plays in both ponds. The biggest names in asset management –Vanguard Group, BlackRock, State Street, Geode Capital, along with Icahn’s -- have $8.47 billion wrapped up in the two struggling companies, making a merger of the pair “more likely” according to one expert.

“We find that when the two companies involved have more common institutional investors that makes the alliance more likely to happen,” finance professor Thomas J. Chemmanur, who has taught at MIT’s Sloan School as well as Duke University, and is currently a professor of finance and Hillenbrand Distinguished Fellow at Boston College’s Carroll School of Management, told CRN. “The more of the same shareholders they have, even passive shareholders, like index funds, the deal is more likely to happen.”

Of the top 10 shareholders in HP and Xerox, those five investors control 23.7 percent of HP and 31.86 percent of Xerox.

 
 
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