CTXS - Citrix Systems climbs 14% in wake of of buyout talk report

Citrix Systems (NASDAQ:CTXS) shares surged more than 14%, Tuesday, as investors reacted to a report that two investment firms are looking to make a bid for the workplace software maker. Reports that Elliott Management and Vista Equity Partners are mulling acquiring Citrix (CTXS) surfaced late Monday. The buyout talks are reportedly in the early stages, and Vista is said to be using its Tibco portfolio company in the bid, according to a report from Bloomberg. Elliott acquired a 10% stake in Citrix (CTXS) in November around the same time that Citrix was said to be exploring options, including selling the company. In November, Morgan Stanley analyst Sanjit Singh cut his rating on Citrix's (CTXS) to underweight from equal weight, and also trimmed his price target on the company's stock to $85 a share from $90.

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Citrix Systems climbs 14% in wake of of buyout talk report