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Speculation abounds regarding how Carl Icahn plans to leverage his new 9.3% stake in Nuance...

Speculation abounds regarding how Carl Icahn plans to leverage his new 9.3% stake in Nuance (NUAN -1.3%). Many think Icahn could push Nuance to sell its slow-growing document imaging ops to lower its $2.3B debt load; Deutsche believes the unit could fetch ~$400M. Some even see a full-blown sale of the company to Microsoft or IBM as a possibility. Regardless, many Nuance investors are likely to back Icahn should he make an activist push. "There’s been a lot of frustration over the balance sheet and performance," observes Mizuho's Joanna Makris.
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