Nov 27 A number of private equity investors are
studying the possibility of making a bid for business software
company Compuware Corp, the Financial Times reported on
Firms such as Thoma Bravo and Vista Equity Partners have
approached Compuware about taking the company private, the
newspaper said, citing unnamed sources.
Other prospective buyers have also looked at Compuware and
are at different stages of negotiations, the report said.
Compuware is being advised by Goldman Sachs.
Thoma Bravo, Vista Equity Partners and Compuware were not
immediately available for comment
Compuware shares were up 3.1 percent in premarket trading.
The company has been at the center of takeover speculation
since it rejected a $2.3 billion offer from its largest
shareholder, Elliott Management Corp, in January. It has held
talks with several private equity firms.
Reuters reported in August that the company had renewed
efforts to sell itself. But Compuware CEO Bob
Paul told Reuters on Nov. 14 that the company had not received
any takeover offer that was high enough for it to agree to a
Activist investor Starboard Value LP has been pushing for a
sale or a new restructuring plan. Starboard, which has a stake
of just under 5 percent in Compuware, asked the company earlier
this month to change the composition of its board and broaden
its restructuring plan if it decided to remain independent.
A consortium led by Bain Capital LLC and Golden Gate Capital
LLC agreed in May to buy Compuware rival BMC Software for $6.9
billion and has been interested in merging BMC with Compuware,
though it has not yet made a concrete move.