Citrix Systems

Singer Elliott Management: More than seven hours passed before Fort Lauderdale-based Citrix CTXS, -0.35% produced a noncommittal, one-paragraph, reply, according to Market Watch. By then the game already was on, with the stock trading up $4.42, or 7%. About 165 activist hedge funds manage $120 billion, and produced astonishing 50% compounded returns from 2012 to 2014, according to the Alternative Investment Management Association. At 8:38 a.m. on June 11, the activist investment firm Elliott Management—run by billionaire Paul Singer—disclosed that it controlled a 7.1% interest in software vendor Citrix Systems, and wanted to meet with management to discuss its proposal to overhaul the company. Singer Elliott Management, with $26 billion under management, is among the biggest—and most ambitious. In a public letter, senior portfolio manager Jesse Cohn told Citrix CEO Mark Templeton and the board of directors that Citrix could realize a share value of $90 to $100 by the end of 2016, up from the previous day closing price of $65.97. As the firm pledged to shake up Citrix, it was also facing down Samsung Group in a South Korean court, over Samsung proposed, stage-managed merger of two affiliates. (news.financializer.com). As reported in the news.