|[September 02, 2014]
Elliott Announces Support for Acquisition of Compuware
NEW YORK --(Business Wire)--
Elliott Management Corporation ("Elliott") today entered into a support
agreement to vote its shares in favor of the acquisition and issued a
public statement regarding Compuware (News - Alert) Corporation (NASDAQ:CPWR).
"Today's announcement reflects the successful conclusion of a multi-year
process to create value for Compuware shareholders," said Jesse Cohn,
portfolio manager at Elliott Management Corporation, Compuware's largest
shareholder. "This has been a significant endeavor -- selling assets,
cutting costs, implementig the Covisint IPO, adding experienced
executives to the Boardroom and taking numerous other steps to
streamline and improve the Company. Credit goes to Bob Paul and his team
for their tireless efforts in implementing these steps and also to the
Board for its thoughtful and engaged process to reach this outcome.
Finally, we congratulate Thoma Bravo for continuing its track record of
recognizing significant value opportunities."
About Elliott Management Corporation
Elliott Management Corporation manages two multi-strategy hedge funds
which combined have more than $24 billion of assets under management.
Its flagship fund, Elliott Associates, L.P., was founded in 1977, making
it one of the oldest hedge funds under continuous management. The
Elliott funds' investors include pension plans, sovereign wealth funds,
endowments, foundations, funds-of-funds, high net worth individuals and
families, and employees of the firm.
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