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 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

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!