Billionaire Carl Icahn has bought a 7% stake in Xerox.
The company disclosed this in a regulatory filing on Monday evening.
Icahn bought 72.2 million shares for about $86.5 million. The stake made him one of the largest owners of the printer maker. Other major stakeholders include Vanguard and BlackRock, according to Bloomberg.
Xerox shares jumped by as much as 10% in after-hours trading. Year-to-date, the shares have fallen about 22%.
China CITIC Bank Corp Ltd and Baidu Inc on Wednesday said they plan to set up a direct bank to capitalize on China's booming online finance market, in the country's first tie-up between an Internet firm and a lender.