Many might reckon that Unisys Corp has shrunk enough since it was created with the acquisition by Burroughs Corp of Sperry Corp, but Greenway Partners LP reckons that it could be a whole lot smaller with advantage. It speaks for about 4% of the shares outstanding and says it has submitted a shareholder proposal for the annual meeting asking for Unisys to be split into three separate companies – information services, support services and computer systems; We believe a true spin-off will finally unleash for the benfit of shareholders the underlying value in Unisys, it says. Unisys, not at all impressed, says Separation of the three units would jeopardize the business of all three units. The board believes it is critical to maintain the current relationship among the three business units for many units including the shared customer base.
