Hedge fund Elliott raises pressure on Mitek after takeover bid rejected [Reuters (UK)]
Mitek Systems, Inc. (MITK)
Last mitek systems, inc. earnings: 4/30 04:05 pm
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Source: Reuters
Hedge fund Elliott raises pressure on Mitek after takeover bid rejected | Reuters 3 Min Read NEW YORK (Reuters) - Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc ( MITK.O ) to scrap a so-called poison pill to let it buy more stock and said it may press for board changes after the software company took steps to protect itself from the activist investor. Elliott, which invests more than $34 billion in assets, wrote to Mitek’s board and asked for “relief from the poison pill recently enacted” in order to buy as much as 14.9 percent of the company’s stock. Mitek did not immediately respond to a request for comment. Elliott is increasing the pressure on San Diego-based Mitek at a time that software company ASG Technologies, which the hedge fund owns, has been pushing to buy Mitek for $10 a share. Mitek has so far rebuffed the overture. Elliott wrote that ASG President and Chief Executive Charles Sansbury first approached Mitek about a possible takeover in August, roughly
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MITK
News
- MITK On Track To Achieve Full-Year Targets Despite Slow Start [Forbes]Forbes
- Mitek Systems, Inc. (NASDAQ: MITK) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Mitek Systems, Inc. (NASDAQ:MITK) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Mitek Systems, Inc. (NASDAQ: MITK) had its price target raised by analysts at Craig Hallum from $17.00 to $19.00. They now have a "buy" rating on the stock.MarketBeat
- Mitek Systems' (MITK) Q1 Earnings & Revenues Decline Y/Y [Yahoo! Finance]Yahoo! Finance
MITK
Sec Filings
- 4/17/24 - Form 8-K/A
- 4/15/24 - Form 10-Q
- 4/15/24 - Form 8-K
- MITK's page on the SEC website