Gartner Shareholder to Halve Stake
In the US, Gartner shareholder ValueAct Capital Master Fund is offering 8,000,000 shares of Gartner common stock in a registered public offering, which will reduce its stake in the firm from 17.5% to 8.7%. Gartner will not receive any proceeds from the sale.
Should the offering go ahead, the tech industry research and analysis firm has the option to buy back 500,000 shares of common stock from ValueAct Capital.
Last week, Gartner CEO Gene Hall (pictured) reported a 17% increase in fourth quarter revenue to $382.3m, and full year 2010 revenue up 13% to $1,288.5m.
The firmís stock is currently trading at $37.50 a share.
Web site: www.gartner.com .