Activist hedge funds press Tangoe to sell itself: sources
Two activist hedge funds are pressing directors of Tangoe Inc. to sell the company, according to people familiar with the matter, citing a weakness in the IT company's business and falling stock price. Ancora Advisors and Engine Capital sent a letter to the company's board of directors last week urging the company to resist the temptation to remain independent, and to do everything possible to seek a buyer, sources said. Tangoe's stock is currently trading at $5.04 per share and its market value is around $200 million. Читать дальше...
