BMC Urges Shareholders To Reject Elliott Director Picks

Law360, New York (June 12, 2012, 5:08 PM EDT) -- Embattled BMC Software Inc. called shareholders to arms Tuesday, urging stock owners to keep its board of directors intact in the face of a challenge from Elliott Management Corp. hedge funds looking to effectuate a sale of the company.

An analysis that Elliott Associates LP and Elliott International LP published last month “substantially undervalues BMC and fails to recognize its strong market position, innovative product offering and tremendous growth potential,” the software company said in a statement that accompanied Tuesday's letter to shareholders.

BMC denounced Elliott's...
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