Mr. Icahn's disclosure comes a month after Xerox said it would launch a review of its business. After Xerox posted its first quarterly loss since 2010, the company's chief executive, Ursula Burns, said on Oct. 26 that "undertaking a comprehensive review of structural options for the company's portfolio is the right decision at this time." Xerox spokesman Sean Collins said Monday the company welcomed open and constructive dialogue with shareholders. "Our board and management team are committed to improving performance and creating value for shareholders and will continue to take the actions to advance these objectives," he said. Leslie Picker of The New York Times explained why Icahn would invest in Xerox to begin with: In a filing with the Securities and Exchange Commission, Mr. Icahn announced he had built up a 7.1 percent stake in Xerox, saying that the shares, which had fallen 22 percent this year, were undervalued. Mr.