Shares of rival VMware, which majority owner Dell Technologies is planning to spin off to shareholders later this year, are up 5% since the start of 2021, while Citrix stock is down by nearly a fifth. That could be what's motivating Elliott to dust off its margin- and discipline-enhancing playbook and potentially push for another new boss and a sale. Like last time around, offloading Citrix to a private equity buyer could be an option: The buyout industry has a record $2.8 trillion of so-called dry powder, essentially investing capacity, according to research firm Preqin. It's a case of déjà vu for Citrix and Henshall. For Elliott, if reforming the enterprise-software company's bad habits worked once, it could work again. __