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In an amended 13D filing today on Unisys Corporation (NYSE: UIS), 9.9% holder MMI Investments urged the company to move immediately to hire a banker and review of all available strategic alternatives, with a particular focus on the potential realization of the U.S. Government business through a sale, tax-free spin-off or subsidiary IPO.

MMI said the company's restructuring benefits are not enough to correct Unisys' dramatic undervaluation. The said the undervaluation is in large part because of flaws in Unisys’ strategic configuration.

MMI requested a meaningful response from Unisys on or before January 23rd, or they will consider possible alternatives available to them, including with respect to the upcoming annual meeting of stockholders.
Unisys confirmed they received the letter from MMI and said they are is in the process of evaluating it.
Source: Large Unisys Holder Urges Exploration of Government Business