January 9, 2018 / 8:58 PM / 12 days ago

Akamai working with Morgan Stanley for strategic review - report

(Reuters) - Akamai Technologies Inc (AKAM.O) is working with Morgan Stanley to explore strategic alternatives including a sale, Bloomberg reported on Tuesday, citing people familiar with the matter.

Shares of the company, which helps speed up content delivery over the internet, were up 2 percent at 67.18 in afternoon trading.

    Hedge fund Elliott Management disclosed a 6.5 percent stake in Akamai last month and had urged the company to consider strategic opportunities to maximize shareholder value.

    No decision has been made and the company may choose not to proceed with any strategic changes, according to the report. (bloom.bg/2CYoeGE)

    Akamai did not immediately respond to a request for comment.

    Reporting by Supantha Mukherjee in Bengaluru; Editing by Shounak Dasgupta

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