BMC Investor Sues To Block $7B Sale To Bain, Golden Gate

Law360, Houston (May 20, 2013, 6:23 PM EDT) -- A BMC Software Inc. investor on Friday launched a proposed class action in Texas court, complaining that a planned $7 billion sale of the company to Bain Capital LLC and Golden Gate Capital shortchanges shareholders.

Putative lead plaintiff Samuel O. Abekian says that BMC’s board of directors agreed to let the software giant “go private on the cheap” for $46.25 per share, while management retains its equity stake in the successful company.

"Unless enjoined by this court, defendants will permit BMC to be taken private by...
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