Gigamon Shares Jump 11% Premarket After Elliott Says It Has Built 15.3% Stake

By Ciara Linnane Markets MarketWatch Pulse

Shares of networking hardware company Gigamon Inc. jumped 11% in premarket trade Monday, after Elliott Management said it had built a 15.3% stake in the company. Elliott, the hedge fund founded by activist shareholder Paul Singer, made the disclosure in a filing with the Securities and Exchange Commission. Gigamon shares are down 23% in 2017 through Friday, while the S&P 500 has gained 7%.

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