Sunday, 26 April 2015
Last updated 2 days ago
Jan 29 2013 | 11:09am ET
Software company Compuware has rejected Elliott Management's $2.3 billion offer, calling it too low.
Elliott had offered $11 per share for the company last month. But while the stock has yet to reach that point, even after the offer, Compuware said a sale at that level would offer too little value for shareholders.
"We believe that selling the company at $11 per share does not take into account our progress returning the business to profitable growth and our future prospects," CEO Bob Paul said.
Elliott owns 8% of Compuware and is said to hope to attract a private equity bidder for the company.
"This is a good outcome," Elliott's Jesse Cohn said. "Compuware has granted our request for access to diligence to confirm an offer for the company. We will immediately reach out to negotiate an appropriate N.D.A. and look forward to moving quickly to engage in diligence with the help of our legal and financial advisers. We remain very interested in the company."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…