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by snake_doc 1361 days ago
Your background missed Elliot’s 5yr+ activist history towards Citrix since 2015, with a brief break around 2020. At the time of this deal, they owned ~12% of Citrix. After 2020 board changes, Elliot bought back into Citrix around Q3 21, so at best around $95-100/sh. This deal pays out $104/sh. So it’s almost a rollover from their equity to PE fund.

Elliot is obsessed with Citrix, and this is furthering their conviction with leverage to boost their opportunity.
2 comments
joschmo 1361 days ago
You're right that it's not paying out Vista much if anything at all when you account for fees, but it's still a nine-figure sum of new money in, which is lifeblood for these zombie B2B software companies to get a few more shots on goal to fix their situation.
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transpute 1361 days ago
Recap of Elliot saga (included ex-Microsoft CEO for 18 months, with $24M signing bonus and $32M severance), https://www.enterprisenetworkingplanet.com/news/citrix-hensh...
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