Citrix Systems gains after report of potential bid from Elliott Management, Vista

Dec. 20, 2021 10:08 PM ETCitrix Systems, Inc. (CTXS)By: Joshua Fineman, SA News Editor

Citrix offices in Silicon Valley

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  • 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.
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