Tuesday, 16 September 2014
Last updated 9 hours 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."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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