Elliott, Compuware Extend Standstill Agreement

Jul 16 2013 | 9:38am ET

Elliott Management and the Michigan tech company Compuware have extended their standstill agreement to September 15.

According to a filing with the U.S. Securities and Exchange Commission, Elliott and its subsidiaries said the agreement was to have expired Monday, but the parties agreed Friday to extend it another two months.

Elliott has proposed an $11-a-share buyout of Compuware, which the company rejected in January as too low. The two parties have been in on-and-off negotiations ever since.

Elliott and its affiliates own 8.7%  (18.67 million shares) of Compuware.

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