CTXS - Why Citrix Systems Stock Is Up More Than 13% Today
Shares of enterprise software outfit Citrix Systems (NASDAQ: CTXS) are up 13.4% as of 1:48 p.m. ET Tuesday, following reports that the company might be taken private.
Bloomberg broke the story late Monday, suggesting private equity firms Elliott Investment Management and Vista Equity Partners are considering a joint acquisition of Citrix Systems.
Several ties already exist between the organizations in question. Elliott took on an initial stake in Citrix in 2015 in hopes that it would be able to drive cost cuts and, potentially, shed divisions that were habitual underperformers. And, though no longer in the role, Elliott partner Jesse Cohn was a member of Citrix's board of directors until last year. As for Vista's interest in a joint acquisition, it would reportedly use one of its existing software holdings called Tibco to consummate its part of the deal, pairing the two outfits to drive additional synergies.
For further details see:
Why Citrix Systems Stock Is Up More Than 13% Today