New York, New York, January 18, 2018 – Today Carl C. Icahn released the following open letter to the shareholders of Xerox Corporation (NYSE: XRX)
Read Carl’s open letters which are often addressed to shareholders and CEOs of some of the world’s biggest and most important companies, including Apple. In these incisive letters, Carl addresses issues central to the economy, including Corporate Governance and Shareholder Activism.
We were obviously pleased that you made the wise choice to terminate the Bonanza merger agreement, but we still have grave concerns about many of the things this board of directors has permitted to happen at SandRidge.
As you are aware, the above-listed entities (the “Icahn Parties”) collectively own 4,818,832 (or approximately 13.5%) of the issued and outstanding shares of common stock
As you know, entities under our control collectively own approximately 13.5% of the issued and outstanding shares of common stock of SandRidge Energy, Inc., making us your largest shareholder.
I applaud the SEC for voting to propose amendments to the outmoded proxy rules to require the use of universal proxy cards
This is a classic example of activists working constructively with an existing Board and management.
In an effort to reach peace with UNITE HERE Local 54, on June 30th the Taj agreed to present a proposal that Local 54 President Bob McDevitt outlined and advised us should be supported by the union.