Elliott’s Changing Nature

  • If taking a minority public stake and pushing an activist agenda doesn’t work? … why not just take the company private.
  • This is the transition that has been going on at Elliott, the famous hedge fund, over the past several years.
  • Apart from Citrix and Athenahealth (the recent sale made them $5bn of profit) they have done a bunch of other deals (see table).
  • Interestingly, this is all being done out of one fund. The lines between private and public markets continue to blur.
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