|Emulex Corp., a California-based technology company, is the latest target of activist hedge fund, Elliot Management Corp. According to Bloomberg, Elliot Management Corp. has increased its stake in Emulex Corp. to 11 percent giving it added leverage to affect changes in the management of the company. |
Paul Singer’s Elliot Management Corp. has a strong track record as an activist investor having forced the sale Novell Inc. in 2010 and more recently, forcing BMC Software Inc. into a $1 billion stock buyback. Emulex successfully fought off an unsolicited takeover offer by Broadcom Corp in 2009.
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