Elliott Management Corp Offers To Buy Compuware For $2.3 Billion

Elliott Management Corporation has offered to acquire Compuware Corporation, a Detroit based IT company, for $2.3 billion.  The bid is based on $11 per share, which is a 15% premium on the company’s closing price of $9.53 on December 14th.  Elliott, a New York based hedge fund company, is “confident” that they are able to get financing for the deal.  Elliott said that Compuware’s “execution, profitability and growth have meaningfully underperformed.”  Compuware sells infrastructure software including mainframe applications, collaboration technology, project management tools, and application management services.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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