NYT – Elliott Management, the activist hedge fund that owns 2.2 percent of the technology giant EMC, is calling for the $57 billion company to break itself apart.
In a letter addressed to EMC’s chief executive, Joe Tucci, and the board, Elliott criticized the company for being overly complex and suggested selling off a range of assets. Should EMC follow Elliott’s advice, it would join a wave of big companies, including Hewlett-Packard and eBay, that are breaking themselves apart, bowing to investor pressure.
