The New York investment fund interested in buying Compuware this week can try new ways to gain more control of the Detroit tech firm's stock, Tom Henderson describes in Crain's.
The fight for Compuware Corp. likely will start heating up with the expiration Wednesday of what is called a standstill agreement with its takeover suitor, Elliott Management Corp. . . .
Not only is Elliott free to engage again in renewed takeover activity, but a big acquisition that was announced last week has led to speculation that Elliott may have large and willing partners in a new offer for Compuware.
Bain Capital of Boston and Golden Gate Capital of San Francisco apparently also are interested in buying Compuware, possibly in partnership with Elliott, the Wall Street Journal reported May 7.
Henderson, who lists four possible approaches Elliott can take now, explains the agreement that's about to lapse:
The standstill provision was part of a confidentiality agreement the New York-based hedge fund signed in February with the Detroit-based computer services company that allowed Elliott to examine some of Compuware's nonpublic financial documents to determine whether to increase an offer made in December.
