Citrix Systems Inc (CTXS.O)
Cloud computing software maker Citrix Systems Inc , under pressure from activist hedge fund Elliott Management, said it would spin off its GoTo business into a listed company and cut about 1,000 jobs, or more than 10 percent of its workforce.
* Shares fall 3 pct in extended trading (Adds analyst comment, details, background; updates shares)
Nov 17 Cloud computing company Citrix Systems Inc said it would cut about 1,000 jobs and spin off its GoTo business into a separate listed company as part of a review of its operation.
Citrix Systems Inc , the U.S. cloud computing company targeted by activist hedge fund Elliott Management, is making a final attempt to sell itself as a whole before it embarks on asset sales, according to people familiar with the matter.
Cloud-computing company Citrix Systems Inc said Chief Executive Mark Templeton would retire and separately said it had agreed to give activist investor Elliott Management a board seat.
July 28 Cloud-computing company Citrix Systems Inc said Chief Executive Mark Templeton would retire and separately said it had agreed to give activist investor Elliott Management a board seat.
* Indexes up: Dow 0.2 pct, S&P 0.2 pct, Nasdaq 0.1 pct (Updates close with latest volume, details on Twitter)
Activist investor Elliott Management Corp said cloud-computing software maker Citrix Systems Inc should sell some units, cut costs and buy back shares to make up for six years of underperformance.
* Elliott seeks spinoff or sale of GoTo, NetScaler businesses
* Indexes up: Dow 0.2 pct, S&P 0.2 pct, Nasdaq 0.1 pct (Updates to close)
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