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Bloomberg: Elliott Management has stake in Micro Focus; shares +6.6%

Published 04/12/2018, 12:17 PM
© Reuters.  Bloomberg: Elliott Management has stake in Micro Focus; shares +6.6%
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  • Activist investor Elliott Management has built a position in Micro Focus (NYSE:MFGP), according to Bloomberg sources.
  • The size of Elliott’s stake isn’t known. Sources say Elliott wants to push for changes in the software company, but details of those changes also weren’t disclosed.
  • Last month, Micro Focus announced a lower than expected revenue decline on the year and lost CEO Chris Hsu.
  • Micro Focus acquired the software assets of Hewlett Packard Enterprise and has struggled to integrate the business.
  • Micro Focus shares are up 6.6% to $17.59.
  • Now read: U.S. Concrete Deserves A Higher Multiple - Cramer's Lightning Round (4/5/18)


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