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Why Are Citrix Shares Trading Higher Tuesday Premarket?

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·1 min read
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  • Elliott Investment Management and Vista Equity Partners are considering a joint bid for software-maker Citrix Systems Inc (NASDAQ: CTXS), Bloomberg reports.

  • Vista is looking to use its portfolio company Tibco as part of the transaction.

  • Citrix has been exploring options, including a potential sale.

  • Related Content: Why Citrix Systems Shares Failed To Impress Markets?

  • The investment firm and activist investor disclosed a stake in the company in 2015, arguing Citrix was suffering from poor execution and management and needed to simplify its business after a misguided buying spree.

  • As part of a settlement that year, Jesse Cohn, an Elliott partner, joined the Citrix board, where he remained until 2020.

  • Citrix previously tried to sell itself in 2017, but discussions with potential buyers, including Bain Capital and Thoma Bravo, stalled due to valuation concerns.

  • Price Action: CTXS shares traded higher by 7.59% at $90 in the premarket session on the last check Tuesday.

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