The Enduring Losses Incurred by Carl Icahn’s 5 Activist Targets over the Long Term

3. Conduent Incorporated (NYSE:CNDT)

Stock Loss: 80%
S&P 500 Return: 98.31%

Conduent Incorporated (NYSE:CNDT) is a technology company that offers digital business solutions and services for the commercial government and transportation sectors. Icahn targeted the company in 2017 by acquiring 19.8 million shares, becoming one of the largest shareholders.

While Icahn has succeeded in engineering management changes, including Clifford Skelton taking over as CEO and getting three board seats, the investment has yet to materialize. Conduent Incorporated (NYSE:CNDT) has shed more than 80% in market value since Icahn acquired stakes, underperforming the S&P 500, which has gained more than 90%.

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