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Cornerstone OnDemand to consider sale under investor pressure: Bloomberg
December 10, 2016 / 12:10 AM / 9 months ago

Cornerstone OnDemand to consider sale under investor pressure: Bloomberg

(Reuters) - Santa Monica-based Cornerstone OnDemand Inc (CSOD.O) has received approaches from potential buyers as shareholders including Praesidium Investment Management push the company to run a formal process, Bloomberg reported.

The report, citing people familiar with the matter, said Cornerstone has not hired a bank to actively pursue a sale. (bloom.bg/2hgapGd)

Cornerstone and Praesidium were not immediately available to comment outside of regular U.S. business hours.

(This story deletes incorrect reference that Cornerstone OnDemand said it received approaches, paragraph 1)

Reporting by Akankshita Mukhopadhyay in Bengaluru; editing by Grant McCool

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