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Gigamon ready to seek buyers; shares up 10%

Jun. 05, 2017 8:03 AM ETGigamon, Inc. (GIMO) StockGIMOBy: Brandy Betz, SA News Editor1 Comment
  • Network monitoring software company Gigamon Inc (NYSE:GIMO) is ready to hold talks with potential buyers, according to Reuters.
  • Activist hedge fund Elliott Management Corp acquired a 15.3% stake last month and encouraged Gigamon to undergo a strategic review with a potential sale. 
  • The sale process, guided by Goldman Sachs Group, hasn’t formally started yet. Bidders might include the likes of Hewlett Packard Enterprise or a tech-focused private equity firm. 
  • Gigamon shares are up 10% premarket.   

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