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HomeBusinessE2open Stock Jumps 26 percent After Elliott Discloses its 13.8 percent Stake

E2open Stock Jumps 26 percent After Elliott Discloses its 13.8 percent Stake

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Elliott Management, an activist hedge fund, announced a 13.8% stake in E2open (NYSE:ETWO) and might consider acquiring the firm.
Elliott purchased 27,250,000 shares at an average of $2.55 each and entered derivative deals for another 14,526,506 shares. By June’s end, they had a 6.8% stake.
Elliott sees E2open as undervalued and aims to discuss maximizing shareholder value with the Board. They may also consider participating in transactions in various capacities. E2open’s shares had decreased by 58.3% year-to-date by Friday but jumped more than 26% intra-day today following Elliott’s disclosure.

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