WEST
PALM BEACH, Fla., July 23,
2024 /PRNewswire/ -- Elliott Investment
Management L.P. (together with its affiliates "Elliott") today
released the following statement attributed to Managing Partner
Jesse Cohn and Partner Jason Genrich regarding Texas Instruments
(NASDAQ: TXN) (the "Company"):
We commend Texas Instruments on the positive
shareholder engagement and capital allocation initiatives announced
by CEO Haviv Ilan on today's
earnings call. We are looking forward to the special Capital
Management event in August, where the Company will detail its fab
strategy and introduce a new framework for revenue and free cash
flow scenarios. As detailed in our May
28 letter to the Board, we are supportive of Texas
Instruments' strategy to build the world's largest footprint of
geopolitically dependable, 300-mm analog semiconductor capacity,
and we continue to believe that this strategy is compatible with
robust free cash flow generation in the coming years. We appreciate
the constructive dialogue that we have established with Texas
Instruments, and we believe the steps announced today will support
long-term value creation for all of its shareholders.
About Elliott
Elliott Investment Management L.P. (together with its
affiliates, "Elliott") manages approximately $65.5
billion of assets as of December 31, 2023. Founded in
1977, it is one of the oldest funds under continuous management.
The Elliott funds' investors include pension plans, sovereign
wealth funds, endowments, foundations, funds-of-funds, high net
worth individuals and families, and employees of the
firm.
Media Contact:
Casey
Friedman
Elliott Investment Management
L.P.
(212)
478-1780
cFriedman@elliottmgmt.com
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SOURCE Elliott Investment Management L.P.