Activist Blue Harbour Says Open Text Can Boost Value Via M&A

Activist investor Blue Harbour Group called Canadian software company Open Text Corp. “mispriced and inexpensive” and said it could be worth at least 50 percent more if it were to do a transformational transaction or sell itself.

“This is a very high quality business,” said Cliff Robbins, Blue Harbour’s chief executive officer, at the 13D Active-Passive Investor Summit in New York Tuesday. “This team knows how to do deals and we’re going to help them.”