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Stock Market & Financial Investment News

News Breaks
December 17, 2012
10:20 EDTCPWRElliott says Compuware has quality assets, says stock has underperformed
In its letter to Compuware's board of directors, Elliott Management, a holder of 8.0% of the company's common stock, wrote: "Based on our detailed review of the Company's publicly available information and our substantial knowledge of the software industry, we are pleased to submit this proposal to acquire all of the shares of common stock of Compuware for a price of $11.00 per share. Our offer represents a premium of 25% over the Company's unaffected market value as of the date Elliott filed its Schedule 13D last month [and] a premium of 15% over the Company's current market value which we believe is substantially inflated as a result of Elliott's 13D, a filing to which the Company has repeatedly drawn attention in public and private settings...We believe in the quality of Compuware's assets however, its execution, profitability and growth have meaningfully underperformed. Prior to the filing of our 13D, Compuware's stock has underperformed the Nasdaq and S&P 500 by an average of 6 and 34 percentage points over the last one and two years, respectively...We are prepared to meet immediately with you and your advisors in order to answer any questions about our proposal and to work out the details for moving toward a definitive transaction agreement. Of course, nothing in this letter is intended to create a legally binding obligation and no such obligation will exist unless and until a definitive transaction agreement is executed. As a result of our substantial share ownership in Compuware, SEC rules oblige us to make the existence and contents of this letter public."
News For CPWR From The Last 14 Days
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November 19, 2014
17:40 EDTCPWRCompuware to sell Detroit building, sees charge of $110M-$115M during Q3
Compuware disclosed in a filing that on November 17, Compuware entered into an agreement for the sale of its headquarters facility located at One Campus Martius, Detroit, Michigan, to 1000 Webward , a Delaware limited liability company for approximately $142M in cash. The closing of the transaction will occur on December 31. Based on the plan of action to dispose of the Building, the company will record a non-cash pre-tax impairment charge of $110M to $115M during Q315.
November 17, 2014
11:11 EDTCPWRHigh option volume stocks:
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November 14, 2014
17:27 EDTCPWRPaulson & Co. gives quarterly update on stakes
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10:03 EDTCPWRHigh option volume stocks
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