Elliott Management Offers $2.3B To Acquire Compuware

Law360, New York (December 17, 2012, 9:02 PM EST) -- Activist investor Elliott Management Corp. on Monday launched an unsolicited $2.3 billion offer for Compuware Corp., saying it can turn around the information technology software heavyweight, which Elliott said has “meaningfully underperformed” during recent years.

Two Elliott hedge funds that collectively control about 8 percent of the Detroit software company's stock — Delaware-headquartered Elliott Associates LP and Cayman Islands-based Elliott International LP —  offered up $11 per share for Compuware, according to a letter Elliott portfolio manager Jesse Cohn sent to Compuware's board of directors Monday....
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