Elliott Seeks Split Of Data-Storage Co.

Jul 22 2014 | 1:12pm ET

Elliott Management is keeping busy, using the time it’s saved by Argentina’s refusal to negotiate to launch a new activist campaign.

Elliott, which has been pushing for talks with Argentina to settle its 2001 default to no avail, has taken a 2% stake in EMC Corp. The hedge fund wants the Hopkinton, Mass.-based data-storage company to spin off its VMware Inc. subsidiary, which it says is being harmed by EMC’s performance.

Elliott spent more than $1 billion on the stake, which makes it EMC’s fifth-largest shareholder.

EMC said it is “always happy to meet with our shareholders.”

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