After getting pressure to split up the company, Unisys Corp. is talking with the hedge fund that has been pushing for change.
To enable the Blue Bell computer services company to continue those discussions with MMI Investments LLP, of New York, Unisys said today that it is postponing a deadline for advance notice of director nominations and shareholder proposals to Feb. 19.
Unisys issued the following in a statement this morning:
Like MMI, the Unisys Board and management believe that Unisys shares are substantially undervalued and that the company's current share price does not appropriately relfect the value of the significant improvements achieved in the company's operating performance and profitability.
MMI, which is run by Millbrook Capital Management Inc., made its call for a breakup of Unisys earlier this month.
Unisys hit its high of $9.60 on July 5. Shares were trading at $3.34, down 6 cents, early today.
