the soap opera continuesCitrix for sale? Maybe not.
- by Barb Darrow September 25, 2015, 11:33 AM EDT
The virtualization expert is definitely under pressure by Elliott Management to sell off non-core businesses, but it may not be shopping itself outright.
Citrix is clearly in a bullseye. In July the company, under pressure from activist investor Elliott Management, said long-time CEO Mark Templeton would retire once a successor is found and added Elliott-friendly board members to the mix. Earlier this week, Reuters had the company shopping itself to Dell.
Clearly things are in flux, but a source close to the company said an internal email sent by Templeton this week denied that the company is on the block and reiterated previously stated plans—pushed by Elliott— to sell off “non-core” businesses.
The source said the meeting between Michael Christinziano, Citrix vice president of strategic development, and Dell was more about taking Citrix private than selling it. Dell, led by its founder and executive officer Michael Dell, famously went private two years ago.