Business software maker Compuware Corp, which has rejected a $2.3 billion bid by an activist investor, is exploring a sale and talking to buyout firms to gauge takeover interest, four people familiar with the matter said.
The Detroit-based company has held early talks with several large private equity firms, including Blackstone Group LP and TPG Capital LP about a potential deal, the people said on Thursday.
Compuware in January rejected an $11 per share offer from New York-based hedge fund Elliott Management Corp, its second-largest shareholder with an 8.7 percent stake, and said it would proceed with plans to spin off a non-core unit, cut costs and pay out dividends.
A Compuware spokeswoman declined to comment but pointed to the company's statement on Jan. 25 that said "the board will carefully review and evaluate any credible offer it receives."
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