BMC Software, Elliott Funds Strike Deal To End Takeover Battle

Law360, New York (July 3, 2012, 5:16 PM EDT) -- BMC Software Inc. and Elliott Management Corp. have called a truce in their hostile takeover war, with Elliott agreeing to drop its coup attempt in exchange for two slots on the software company's slate of 2012 director nominees, Houston-based BMC announced Tuesday.

Under the agreement, BMC will expand its 10-member board of directors to 12, making room for two Elliott candidates, which the embattled business technology firm agreed to endorse, according to a statement from BMC.

The cease-fire lays to rest a bitter, weeks-long public fight...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.