Shareholder will receive about $10.92 in cash and stock for each share of Compuware they own as the equity firm takes the company private. The two companies expect the deal to close sometime in early 2015.
"This is the right transaction for Compuware at the right time, and reflects a thorough Board review of strategic alternatives and the work of a committee established earlier this year to focus on value-generating steps," Compuware chairman Gurminder S. Bedi said in a press release. "This agreement provides shareholders with immediate and substantial cash value, a significant premium to our share price, and the ability to complete the Covisint spin-off to shareholders."
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.
Must Read: 50 Stocks Hedge Funds Love