Xerox (NYSE:XRX) shares are trading higher on Monday after Carl Icahn added to his stake in the company, purchasing 1.8 million shares at an average price of $16.31.
Icahn has been pushing for Xerox to merge with HP Inc for an extended period of time. He most recently spoke about the potential merger in March.
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Xerox is an original equipment manufacturing and software company. Xerox operates in one segment--design, development and sale of printing technology and related solutions--while deriving 60% of its revenue from North America, and 40% from international markets.
Xerox shares were trading up 5.73% at $17.72 on Monday at the time of publication. The stock has a 52-week range between $39.47 and $14.22.