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Icahn, Deason demand Xerox explore strategic options

Hedge fund managers Carl Icahn and Darwin Deason demanded on Monday that Xerox Corp explore strategic alternatives and said they would join forces to elect four new members to the board, prodding the company's shares higher.

AIG to buy reinsurer Validus for $5.56 billion

American International Group on Monday said it would buy reinsurer Validus Holdings for $5.56 billion in cash, snapping a long period of retrenchment for AIG as new Chief Executive Brian Duperreault plots an expansionist path.

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