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

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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.