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BRIEF-Elliott management sends letter to Cognizant Technology Solutions Corporation
2016年11月28日 / 下午1点47分 / 1 年前

BRIEF-Elliott management sends letter to Cognizant Technology Solutions Corporation

Nov 28 (Reuters) - Cognizant Technology Solutions Corp :

* Elliott management sends letter to cognizant technology solutions corporation outlining value-enhancement plan

* Elliott management - manages funds that collectively beneficially own more than 4% of common stock and equivalents of cognizant technology

* Elliott Management says cognizant “can achieve a value of $80-$90+ per share by end of 2017 by implementing value-enhancement plan”

* Elliott Management says also requested a near-term meeting with the cognizant board to share additional diligence and further thoughts

* Elliott Management -requesting meeting with board to share details of “operational plan that we believe will create significant value for stockholders”

* Elliott Management says “believe there are opportunities to optimize cognizant’s two-in-a-box model, particularly with respect to non-strategic clients”

* Elliott Management - there is opportunity to streamline cognizant’s sales function through optimization of complex matrix structure, selected selling roles

* Elliott Management to cognizant - “we have identified an opportunity to trim function sizes, specifically hr and finance” Source text for Eikon: Further company coverage:

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