Elliott discloses 5.1 percent stake in UK software firm Micro Focus
Reuters
Published Apr 23, 2018 15:45
Elliott discloses 5.1 percent stake in UK software firm Micro Focus
(Reuters) - Elliott Capital Advisors L.P on Monday disclosed a 5.1 percent stake in British software firm Micro Focus International Plc (L:MCRO).
The news comes about two weeks after Bloomberg reported that Elliott, the New York hedge fund run by billionaire Paul Singer, had built a position in Micro Focus and plans to push for changes at the company.
Private equity firms could be interested in all or parts of Micro Focus and some buyout firms have crunched the numbers and spoken to banks about the feasibility of a deal, Bloomberg reported then, adding that no formal talks between the company and potential buyers were underway.
Micro Focus shares jumped as much as 12 percent after the Bloomberg report. The shares had been pummelled by a sales warning and its CEO's departure on March 19.
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Written By: Reuters
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