Synopsis
Activist-investor Mantle Ridge Capital has taken a USD1 billion position in Cognizant. In 2016, Elliott Management took a 4% stake in the company and Cognizant did not come out of that activist ownership happily. Will things be different this time around?
Activist-investors have a reputation. They come in. Pillage the company for returns. And, sometimes, leave a broken listless firm behind. The buyout of RJR Nabisco gave rise to the term ‘Barbarians at the gate’. Then there are numerous examples of victims of corporate raiders – think JC Penney, Samsung et al. Closer home, India heritage IT services company Cognizant is one such instance. In 2016, Elliott Management took about a 4% stake in the
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