NEW YORK, Aug. 15 -Elliott Associates, L.P., and its sister fund, Elliott International, L.P., today announced that the funds filed a Schedule 13D with the Securities and Exchange Commission disclosing a 5.93 percent ownership position in the common stock of Enterasys Networks (NYSE: ETS).
According to the filing, the funds indicated that "depending upon market conditions and other factors that it may deem material, each of Elliott and Elliott International may purchase additional shares of (Enterasys) Common Stock and/or related securities or may dispose of all or a portion of the Common Stock or related securities that it now beneficially owns or may hereafter acquire." In addition, Elliott said it is concerned that Enterasys is "not maximizing shareholder value," and that its funds may have discussions with the company's management, Board of Directors and financial advisors, as well as other third parties, "regarding certain significant corporate actions, including the merger or sale" of the company.
About Enterasys Networks
Enterasys Networks, based in Andover, Massachusetts, provides enterprise customers with innovative network infrastructure products, services and solutions that deliver the security and performance required by Global 2000 organizations. The company's products include multilayer switches, core routers, WAN routers, wireless LANs, network management, and intrusion defense systems.
About Elliott Associates, L.P.
Elliott Associates, L.P. and its sister fund, Elliott International, L.P. have more than $5.2 billion of capital under management as of July 1, 2005. Founded in 1977, Elliott Associates is one of the oldest hedge funds under continuous management. The Elliott funds' investors include large institutions, high-net-worth individuals and families, and employees of the firm.
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