Jul. 14 at 12:36 PM
$PSH Re XRX
$XRX 7/12/2023
$16.09
Xerox seems like a roll of the dice and I know where they are going to fall after I read this! Yikes!
Go Bill Ackman!
Icahn is committed to add collateral if the firm's net asset value falls below a predetermined amount.
To reach the deal, Icahn has had to pledge 95% of his outstanding IEP shares, and has agreed to make a
$500 million principal payment before September.
Additionally, Icahn has been asked to pay
$87.5 million in quarterly principal payments starting September 2024, repaying the final
$2.5 billion principal in 2026.
Meaning he's going to need to sell his worst investments first and foremost and take a tax loss against gains this year... otherwise he'd just send cash to cover these obligations which would be stupid , and "Uncle Carl" just like Uncle Sam is not Stupid