Tochigi Ontario Holdings has today said that the Famous IT solutions provider, Compuware, has decided to go private after it agreed to a stock and cash deal of $2.5 billion with private equity firm Thoma Bravo. Compuware is known to have made the decision following pressure from activist investor, Elliott Management. The current deal will put an end to a process that was initiated in 2012 when Elliott Management bought a stake in Compuware and made an $11/share to take it over. Elliott owns 9.5% of Compuware and has decided to vote for the deal. "Thoma Bravo has offered to pay $10.92 per share for Compuware. The offered price is lower than what Elliot originally offered. However, Compuware is supporting this deal, representing a 17% premium to last week's stock process of Compuware and after several gestures that were purposed towards value creation for shareholders," said Head of Corporate Trading at Tochigi Ontario Holdings, Jonathan Turner. Since Elliott to...
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