Elliott Management Nominates Independent Directors to Compuware Corporation (CPWR)’s Board

Paul Singer‘s Eliott Management, which owns 8.6% of Compuware Corporation (NASDAQ:CPWRentered into an agreement with the company, under the terms of which, the company will nominate two new independent directors to Compuware’s board.

Paul Singer ELLIOTT MANAGEMENT

According to a recent 13D filing, Compuware Corporation (NASDAQ:CPWR) and Elliott Management entered into an agreement on January 8 to nominate John G. Freeland and Stephen F. Schuckenbrock for election as directors of the company’s board. The two would join the nine existing incumbent directors.

According to the filing, the parties agreed that they shall convene and hold the 2013 Meeting to elect the new directors on or before March 31, 2014. In addition, Compuware Corporation (NASDAQ:CPWR) announced their intention to hold the 2014 annual meeting of shareholders by December 31, 2014.

Also per the filing and the agreement, the Board shall create a new committee consisting of Jeffrey J. Clarke, William O. Grabe, Fritz Henderson and John G. Freeland in order to advise on and recommend to the Board strategies to enhance Compuware Corporation (NASDAQ:CPWR)’s stock value.

Compuware Corporation is the seventh largest equity position in Paul Singer’s portfolio. The basic materials and technology-heavy fund is long Hess Corp. (NYSE:HESS), in which it owns 17.10 million shares and Delphi Automotive PLC (NYSE:DLPH), in which the fund holds 13.70 million shares.

Other funds that are long Compuware Corporation include Jeffrey Smith‘s Starboard Value Lp, which owns 9.2 million shares of the stock, and Sandell Asset Management, where fund manager Tom Sandell is long 4.1 million shares.

Paul Singer has been upping his fund’s stake in Compuware over the past year: In the first quarter of 2013 he increased Elliott’s stake in Compuware Corporation (NASDAQ:CPWR) by 54%.

Disclosure: none

Recommended Reading:

Prem Watsa, Fairfax Acquire Some Shares of BlackBerry Ltd (BBRY) for Investment Purposes

Visium Asset Management Ups Stake in Skyrocketing Intercept Pharmaceuticals Inc (ICPT)

Ariel Investments Boosts its Exposure to Rosetta Stone Inc (RST), Spartan Motors Inc (SPAR) and Sigma Designs Inc (SIGM)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!