Seeking Alpha

Violin Memory jumps; five suitors reportedly show informal interest

  • Clinton Group's Gregory P. Taxin tells Bloomberg beaten-down Violin Memory (VMEM +7.3%) has received informal interest from five potential suitors. He adds Violin (current market cap of $297M) may have received offers in the $700M-$1B range prior to its September IPO.
  • Clinton, an activist investor in Violin, called for the company to sell itself last month.
  • Violin's shares remain down 60% from their $9 IPO price, thanks in large part to bad earnings news. Its recent management changes could help facilitate a sale, as might the fact the enterprise flash storage space has seen a flurry of M&A activity from the likes of Cisco, EMC, IBM, and Western Digital. Potential buyers include NetApp, Dell, and Oracle.
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