August 19, 2014
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Elliott Management Corp., the activist investor whose portfolio company is trying to acquire Mitek Systems Inc., urged Mitek to lift a measure that could prevent a hostile takeover.
Mitek's board rejected ASG Technologies' takeover bid for $425 million.
ASG Technologies Group made public its offer for Mitek Systems, valued at $425 million.
Mitek Systems reportedly rejected a takeover bid from ASG Technologies, a portfolio company of Elliot Management Corp.
Mitek Systems , a San Diego maker of software used by more than 2,500 financial institutions for transferring money via mobile devices, saw its stock plunge 18 percent Aug. 18 following the company’s announcement that its chief technology officer abruptly left the company.