Not a threat: Elliott Management Corp clinched the Dell Inc software deal through Evergreen Coast Capital, a new tech-focused private equity wing housed inside the hedge fund. — Reuters
NEW YORK/SAN FRANCISCO: Elliott Management Corp's deal to acquire Dell Inc's software assets shows how the US hedge fund and prominent activist investor is stepping up its private equity practice, and positioning itself for more takeovers in the tech sector.
The more than US$2bil (RM8.11bil) purchase, done with buyout firm Francisco Partners, is an offshoot of Elliott's campaign against storage company EMC Corp, which agreed to be bought by Dell Inc last year for US$67bil (RM271.61bil). Dell shed the software assets because it deemed them non-core following the deal with EMC.
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