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 Click to see monthly returns in table format!

Lists

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

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!