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Mercury Systems Stock Spikes on Report of Activist Push from Jana Partners -Breaking

by Mike Robinson

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© Reuters.

By Daniel Shvartsman

Mercury Systems (NASDAQ) shares jumped nearly 10% Thursday after Jana Partners, an activist company, triggered by Investing.com. filedThe 13D discloses a 6.6% interest in the business.

Thursday’s increase in aerospace and defense contractors was 9%, close to the levels that were seen after August’s highly criticized earnings report.

Jana’s 13D file showed that Mercury Systems has been growing their stake for almost two months. Although the reasons given for the position are not specific, they were stated to be a goal of discussions with management to optimize shareholder value. “Including evaluating strategic alternatives such as a sale or merger of Mercury Systems, operations, capital allocation and board composition” – Bloomberg reportedJana would advocate for a strategic review, including the possibility of a sale. Jana is a strong advocate of CyrusOne (NASDAQ 🙂 sales. Vonage Holdings Corp (NASDAQ:) and Perspecta(NYSE:).

Mercury Systems did not comment. Mercury Systems’ shares have fallen 37% over the past year. The market capitalization of the company is $3.1B.

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