Hedge Fund Elliott is Turning Attention to Compuware
Elliott Management Corp., the hedge-fund firm, is turning attention to the acquisition and issued a public statement regarding Compuware Corporation.
“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, implementing 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.”
Source: Rock Hill Herald
