XO Holdings shareholder ups offer for company to $0.80 per share

By Lisa Kerner

Charlotte, N.C., Oct. 26 - Carl C. Icahn affiliate ACF Industries Holding Corp. made a non-binding proposal on Friday to increase its offer for XO Holdings, Inc. to $0.80 per share in cash from $0.55.

The original offer expired at 6 p.m. ET on Monday, according to a schedule 13D/A filed on Monday with the Securities and Exchange Commission.

As previously reported, XO rejected ACF's $0.55-per-share offer in late September because of its believe that the offer substantially undervalues the company.

XO Holdings is a Herndon, Va., voice and internet services company.

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