Investor Pushes Compuware To Sell, Threatens Proxy Fight

Law360, New York (April 5, 2013, 5:45 PM EDT) -- Compuware Corp. shareholder Sandell Asset Management Corp. on Friday urged Compuware CEO Robert Paul to consider a sale as soon as possible, following the company's rejection of a $2.3 billion buyout bid from Elliott Management Corp. in January.

Sandell, which owned about 2.8 percent of Compuware's stock as of Dec. 31, said management's "tendency to overpromise and underdeliver" was worrisome and that he shareholders would be better off with a cash-out deal.

Compuware has blamed its fourth-quarter results on lower corporate spending on information technology and...
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