- Citrix Systems Inc CTXS is exploring options for sale following a sharp drop in its share price, Bloomberg reports.
- The shares plunged 16% year to date, reaching a market value of $13.6 billion, marking their sharpest decline since their disappointing Q2 2008 results.
- Elliott Investment Management recently acquired a 10% stake in the workplace software maker.
- Elliott previously disclosed a stake in 2015, arguing that it was suffering from poor execution and management.
- Citrix's previous sale attempts in 2017 with potential buyers, including Bain Capital and Thoma Bravo, stalled due to valuation.
- Price Action: CTXS shares are trading higher by 4.40% at $114.40 premarket on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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