Nov 14 Activist investor Starboard Value LP
asked business software maker Compuware Corp to
consider an immediate sale or implement a new restructuring
Starboard, one of Compuware's largest shareholders with a
stake of just under 5 percent, detailed the actions it wants the
company to take in the restructuring plan.
Starboard said the plan should include a $450 million tender
offer, sale of non-core assets, more cost cuts and a dividend
"We believe the length of time that the company has spent
exploring strategic alternatives, without any conclusion to the
process, has created a significant overhang on the stock price,"
Starboard said in a letter to Compuware.
Compuware rejected a $2.3 billion offer from New York-based
hedge fund Elliott Management Corp in January.
Reuters reported in August that the company had renewed
efforts to sell itself.
Shares of the company were up 2.7 percent at $10.80 in