Elliott takes 6.5 percent stake in Akamai

Reuters News
|
Posted: Dec 15, 2017 4:38 PM

(Reuters) - Activist hedge fund Elliott Management Corp on Friday disclosed a 6.5 percent stake in Akamai Technologies Inc <AKAM.O>, saying that the shares of the company were "significantly undervalued".

Shares of Akamai, which speeds up content delivery over the internet (OTT), were up nearly 13 percent at $65.10 in after-market trading. (http://bit.ly/2AAjqTk)

(Reporting by Sonam Rai in Bengaluru; Editing by Shounak Dasgupta)