Elliott Management Statement on Cubic Corporation

NEW YORK, Sept. 21, 2020 /PRNewswire/ -- Elliott Management Corporation ("Elliott"), which manages funds that own a significant economic interest in Cubic Corporation ("Cubic" or the "Company"), today released a statement from Elliott Partner Jesse Cohn and Portfolio Manager Marc Steinberg regarding Cubic's shareholder rights plan announcement:

"Over the past several weeks, Elliott has engaged privately with Cubic regarding a potential acquisition of the Company. In response to the Company's decision to make our dialogue public, we can confirm that we have acquired an approximately 15% economic interest in the Company and have partnered with a leading private equity firm to pursue this opportunity. While we are disappointed with the board's decision to impose a shareholder rights plan, we are pleased that the board has acknowledged its fiduciary duty to engage in good faith in pursuit of the value-maximizing outcome for Cubic and our fellow shareholders. We are fully prepared to acquire Cubic and look forward to immediate engagement with the Company."

About Elliott

Elliott Management Corporation manages approximately $41 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it 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:          Stephen Spruiell                                                          Elliott Management Corporation                                            (212) 478-2017                                               [email protected]

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SOURCE Elliott Management Corp