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Imperva Stock Surges on ‘Strategic Review’ Announcement

Imperva (IMPV) shares surged after the market closed Thursday after the company announced it had retained Qatalyst Partners as a financial adviser and launched a strategic review in the wake of a month-long campaign launched by activist investor Elliott Management's Paul Singer to have the company consider "strategic opportunities."

In June, Elliott launched a campaign at the Redwood Shores, Calif.-based cyber and data security products company, noting that it had started a dialogue with the officials there over the fund's concerns that the company is materially undervalued and operates in a highly strategic area of the technology industry with an attractive...