-

Legion Partners Comments on Reports of Nutanix’s Sale Process

Believes Reported Interest Reinforces that Nutanix’s Long-term Value Has Not Been Reflected in its Recent Stock Price

Encourages Board to Fully Explore All Potential Options – Particularly with Strategic Buyers – in Order to Achieve Best Outcome for All Stockholders

LOS ANGELES--(BUSINESS WIRE)--Legion Partners Asset Management, LLC, together with its affiliates (collectively, “we” or “Legion Partners”), a significant stockholder of Nutanix (the “Company”) (NASDAQ: NTNX), today commented on recent media reports that Nutanix has received interest from potential acquirers and is exploring a sale:

“Our recently disclosed engagement with Nutanix and the associated discussions around its business only served to reinforce our conviction that the Company’s trading price has for some time not appropriately reflected its full value. Nutanix should be valued at a multiple appropriate for the high-growth and high-quality enterprise subscription software company that it is, not like the hardware stock it has been recently valued as. As such, we are encouraged by the reports today that the Company has received interest from third parties and believe that, in light of this, the Board must properly evaluate alternatives including all potential partners.

Given Nutanix’s unique position and current industry dynamics, in our view, a strategic buyer would be the ideal partner for the Company. We encourage the Board to fully explore all options in order to achieve the best outcome for all stockholders and we will be observing the process closely.”

About Legion Partners

Legion Partners is an activist investment manager based in Los Angeles, CA, focused on U.S. small-cap companies. Legion seeks to generate attractive long-term returns employing deep fundamental research, a concentrated portfolio and responsible, collaborative engagement as a catalyst for value creation. Founded in 2012, Legion takes a value-driven approach to managing a high-conviction portfolio on behalf of sophisticated institutional and individual investors. Learn more at www.legionpartners.com.

Contacts

Media Contact:
Longacre Square Partners
Dan Zacchei / Joe Germani
dzacchei@longacresquare.com / jgermani@longacresquare.com

Industry:

Legion Partners Asset Management, LLC

Release Versions
English

Contacts

Media Contact:
Longacre Square Partners
Dan Zacchei / Joe Germani
dzacchei@longacresquare.com / jgermani@longacresquare.com

More News From Legion Partners Asset Management, LLC

Legion Partners Issues Letter to The Chefs’ Warehouse, Inc. Shareholders Calling for Urgently Needed Board Change

LOS ANGELES--(BUSINESS WIRE)--Legion Partners Asset Management, LLC, together with its affiliates (collectively, “we” or “Legion Partners”), is a significant shareholder of The Chefs’ Warehouse, Inc. (“Chef”, or the “Company”) (NasdaqGS: CHEF). Today, Legion Partners issued a public letter to the Company’s shareholders announcing its nomination of four candidates to the Board of Directors (the “Board”) in order to reverse the Company’s chronic underperformance. The full text of the letter follo...

Legion Partners Comments on Successful Outcome of Litigation Against Primo Water

LOS ANGELES--(BUSINESS WIRE)--Legion Partners Asset Management, LLC, together with its affiliates (collectively, “we” or “Legion Partners”), is a significant shareowner of Primo Water Corporation (“Primo”, or the “Company”) (TSX/NYSE: PRMW). On March 22, Legion Partners was forced to file a lawsuit in the Ontario Superior Court of Justice (the “Court”) against Primo in response to the rejection by the Board of Directors (the “Board”) of Legion Partners’ valid nomination of four independent, hig...

Legion Partners Releases Supplemental Presentation Setting the Record Straight on Primo Water Corporation’s Ongoing Efforts to Distract Shareowners

LOS ANGELES--(BUSINESS WIRE)--Legion Partners Asset Management, LLC (together with its affiliates, “Legion Partners” or “we”), which collectively with the other participants in its solicitation beneficially owns approximately 1.5% of the outstanding common shares of Primo Water Corporation (TSX/NYSE: PRMW) (“Primo” or the “Company”), today released a supplemental presentation detailing the Company’s smear tactics and attempts to divert attention from its poor performance. Despite Primo’s repeat...
Back to Newsroom