BMC Rejects Elliott Sale Proposal With Poison Pill

Law360, New York (May 14, 2012, 2:48 PM ET) -- BMC Software Inc. has blocked two hedge fund investors' push for a sale with a poison pill that would prevent Elliott Associates LP and Elliott International LP from acquiring a greater than 10 percent share in the Houston company, according to an announcement Monday.

BMC rebuffed Elliott's urging to sell the software outfit, which specializes in business service management software, according to statements BMC issued Monday.

“We do not believe the Elliott proposal is in the best interests of our stockholders," BMC Chairman and CEO Bob...
To view the full article, register now.