Unisys Clears Its Calendar To Talk With Hedge Fund

Feb 20 2008 | 7:41am ET

Unisys Corp. has again delayed its annual meeting to give it more time to speak with a hedge fund agitating for a sale of one of its units.

New York-based hedge fund Millbrook Capital Management is pushing the Blue Bell, Pa.-based information technology company to consider an initial public offering of part of its U.S. government services business. The company said the delay until July 24 will give it and its investment banker, Bear Stearns, time to explore “certain portfolio rationalization and other actions that may enhance shareholder value.”

Millbrook’s MMI Investments owns a 9.9% stake in Unisys.

Unisys also pushed back its deadline for advance notice of shareholder proposals to June 2.

Millbrook said yesterday it approved of the delay.


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