Compuware Corp, a management software corporation, revamped its attempt to sell itself. Compuware courted not only the buyers of competitor BMC Software Inc but also CA Technologies Inc and other takeover firms. The information came from people with knowledge of the matter.
Last January, Compuware refused the US$2.3 billion worth bid of Elliott Management Corp, a New York-headquartered hedge fund. The company hired Goldman Sachs Group Inc and Allen & Company to look for higher bids. However, it has already been seven months and no better offer has emerged.
Compuware said it held talks with a private equity consortium headed by Bain Capital LLC and Golden Gate LLC. In May, the consortium signed a deal to purchase BMC for US$6.9 billion. Sources said that the conglomerate was interested in merging BMC with Compuware but it would not begin a full-fledged discussion until September. Preliminary negotiations between the new owners of BMC and Compuware identified that up to US$200 million in cost savings each year could be recorded by Compuware with the deal.
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