Deals
Elliott Offers to Acquire Compuware for $2.3 Billion
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Elliott Management Corp., the activist investor that owns 8 percent of Compuware Corp., offered to buy the Detroit-based software company for $2.3 billion, saying it has “underperformed.”
The bid of $11 a share is a 15 percent premium over the company’s closing price of $9.53 on Dec. 14. Elliott, the $20 billion New York-based hedge fund founded by billionaire Paul Singer, said it is “confident” that it can obtain financing for the deal, according to a statement today.