CTXS - Citrix Systems gains after report of potential bid from Elliott Management Vista
Citrix Systems (NASDAQ:CTXS) rose 7.6% in after hours trading after a report that Elliott Management and Vista Equity Partners are considering a joint bid for the company. Talks are said to be at an early stage and Vista Equity may use Tibco as part of the bid, according to a Bloomberg report. The potential bid comes after Bloomberg reported in September that Citrix (CTXS) was working with advisers to explore a potential sale. The talks were said to follow activist investor Elliott Management taking a 10% stake in the company. In 2015, Elliott Management pressed the workspace software company to explore its potential options, leading to a settlement and the awarding of a board seat. Two years later, Citrix reportedly approached potential buyers but the talks stalled over valuation. Last month, Citrix Systems falls after cut to underweight at Morgan Stanley.
For further details see:
Citrix Systems gains after report of potential bid from Elliott Management, Vista