Deals
NetApp Is Said to Be Pushed by Elliott to Change Board
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Elliott Management Corp. took a significant stake in NetApp Inc., pressing the data-storage company to change its board and study options to boost shareholder value, people familiar with the situation said.
NetApp shares rose 6.2 percent, the biggest gain since Nov. 15. Elliott, the hedge-fund firm founded by billionaire Paul Singer, has been in talks with NetApp for weeks over its proposals, including a return of cash to shareholders, said one of the people, who asked not to be identified because the talks are private. Goldman Sachs Group Inc. is working with NetApp to help the company examine its options, one person said.