Some investors feel that Rometty is doing a good job coping with a tough situation, so she does not fit the role of an underperforming CEO that many activists looked for when they made a move. — EPA
NEW YORK: Some top shareholders of IBM, disappointed by 11 straight quarters of falling revenues, are seeking help from activist investors to shake up the company, but have been turned down by both Bill Ackman’s Pershing Square and Jeffrey Ubben’s ValueAct, sources said.
International Business Machines Corp (IBM) is concerned about a possible attack by prominent activist hedge funds, and is working with two investment banks to formulate a defence plan, according to the people.
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