New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
October 23, 2014
16:35 EDTCPWRCompuware reports Q2 EPS 9c, consensus 7c
Subscribe for More Information
October 21, 2014
10:03 EDTCPWRCompuware announces distribution ratios for Covisint spin-off
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use