Report: Xerox to Split In Two Companies

Xerox Corp will split into two companies and give billionaire activist investor Carl Icahn three board seats on one of the companies, the Wall Street journal reported.

Xerox will split into one company containing its hardware operations and another housing its services business, the Journal reported, citing sources. (http://on.wsj.com/1Tqk0bj)

The WSJ said Icahn would get the board seats on the company housing the services business.

Icahn in November had disclosed a 7.1 percent stake in the printer and copier maker and called it's shares "undervalued". (Reporting by Anet Josline Pinto in Bengaluru; Editing by Savio D'Souza)