Singer, via elliott associates and elliott management, now owns. Bmc software caught between cloud boom and tech gloom. Free orderin lunches, plenty of free beverages and snacks, great benefits. Bmc software responds to elliott managements letter bmc. Elliott lays out argument for a sale of bmc software the new. Bmc adopts takeover defenses after elliott gains 5% stake. Bmc the company or bmc, the recognized leader in business service management, has reached an agreement with elliott associates, l. Prior deals by elliott management could offer insights into how it is. Partners and elliott management collectively, the investor group.
Elliott management nominates five experienced technology. Bmc urges shareholders to reject elliott director picks. Bmc software finance is backed by bain capital partners, golden gate private equity, gic special investments pte ltd, insight venture management and elliott associates. Bmc software to be acquired by global investment firm kkr. Bmc software rebuffs elliott with poison pill reuters. Bmc software inc adopted a shareholder rights plan to help stave off a potential acquisition, after hedge fund group elliott called for a sale of the company and told the business software. The elliott funds investors include large institutions, highnetworth individuals and families, and employees of the firm.
Elliott management, apparently concerned that its calls for bmc software to sell itself have not been heeded, has laid out its argument in a lengthy presentation the hedge fund filed a 36page powerpoint presentation with the securities and exchange commission on thursday, aimed at prodding bmc into considering a sale to a larger software company or a private equity firm. Bmc announces job losses as standstill agreement with activist investor elliott associates ends. Kkr today announced the signing of a definitive agreement under which kkr will acquire bmc. The elliott management track record in tech deals diginomica. Bmc software finance to offer private placement pe hub. Present nuance communications october 2011 may 2014 bmc software december 2009 september 2011 progress software acquired iona technologies. Bmc software notified that elliott has acquired over 5% of. Kkr to acquire bmc software from investor group pr newswire. Founded in 1977, elliott is one of the oldest hedge funds under. Billionaire paul singers latest stock picks insider monkey. The houston company, a maker of software to manage corporate computer networks, reported that it adopted takeover defenses after elliott associates lp acquired a stake of more than 5 percent in bmc. Bmc rejects elliott sale proposal with poison pill law360. Bmc announces that a representative of elliott associates, l. Bmc software today announced that the companys stockholders approved the stockholder proposals required for the proposed merger, providing for merger.
Shares of bmc software, which specializes in enterprise products, soared nearly 10 percent after elliott associates, the venerable new york hedge fund, said it had acquired a stake above 5 percent. Bmc stock was originally traded on nasdaq under the symbol bmcs and on the new york stock exchange with symbol bmc, but the. Bmc softwares plan to be acquired is a victory for paul singers hedge fund, elliott management corp. Jon simonfeature photo servicebmc softwarehandout via reuters. Article related articles 2 stock quotes 2 comments 0. Elliott management to keep a finger in bmc software wsj.
Founded in 1977, elliott is one of the oldest hedge funds under continuous management. The company was acquired from a private investor group led by bain capital private equity and golden gate capital together with gic, insight venture partners, and elliott management. Bmc software announces stockholder approval of merger. Bmc the company or bmc, the recognized leader in business service management, today issued the following statement in response to the press release issued earlier today by elliott associates, l. The hedge fund elliott management has filed a 36page powerpoint presentation with the s. Elliott, a seasoned investor in the software sector, has a 9. Civil engineering education csulb 1985 1987 moscow state mining.
New york, may 15, 2012 prnewswire elliott management today confirmed that it has nominated a slate of five highly experienced executives for election to the bmc software board of directors at. Why is billionaire paul singer getting deeper into bmc. Elliott believes that bmc is not a g ood but a great company that can return significant and. Jim schaper and john dillon to be added to bmc slate. Bmc software soars after elliott associates buys in. Paul singer founded elliott associates in 1977, making elliott quite old when compared to the rest of the hedge fund industry. Bmc software, ca technologies ca weigh deal to combine. Elliott lays out argument for a sale of bmc software the. Bmc software this morning announced that the company has been notified that the investment firm elliott associates has acquired more than. We are the oldest travel agency in japan and have been in business for more than 100 years. Bmc offers saasbased and onpremise software and services in areas including cloud computing, it service management, automation, it operations, and mainframe. Known as a bruising activist fund, paul singers fund has completed. Bmc has too quickly brushed off its arguments that the company should put itself up for sale and hire new board of.
Houstonbased bmc software is being acquired by global investment firm kkr. Bmc or the company today announced the successful completion of its acquisition by a private investor group led by bain capital private equity and golden gate capital together with insight venture partners, gic special investments pte ltd gic, and elliott management corporation collectively, the investor group. Billionaire investor and hedge fund manager paul singer continues his push for the sale of bmc software, inc. Bmc or the company today announced the successful completion of its acquisition by a private investor group led by bain capital and golden gate capital together with insight venture partners, gic special investments pte ltd gic, and elliott management corporation collectively, the investor group. View robert bains profile on linkedin, the worlds largest professional community. Venture partners, gic special investments pte ltd gic, and elliott.
Bmc software announces agreement with elliott management. For the last several weeks, we have actively encouraged bmcs management and board of directors to work productively with elliott and our. The fund recently filed its f with the sec, disclosing many of the. In 2012, it was confronted by activist shareholders as elliott associates and elliott international acquired more than 5 percent of bmc s common stock. Bmc, elliott reach agreement over board houston business. Elliott, founded in 1977, is one of the oldest private investment firms of its kind under continuous management. Elliott believes that bmc is not a g ood but a great. M moser associates have designed the offices of nonprofit educational organization teach for america, located in san francisco, california. Bmc agrees to nominate elliott picks to expanded board. Graduates of moscow state mining university msmu the names, photos, skill, job, location.
Despite claims from elliott associates lp that bmc software inc. Activist elliott embraces private equity strategy financial times. Bmc software continues to evolve after 36year ride. Elliott intend to make a filing with the securities and exchange. Bmc software completes privatization transaction bain. The company is being acquired from a private investor group led by bain. Reviews from bmc software employees about bmc software culture, salaries, benefits, worklife balance, management, job security, and more. Elliott files detailed analysis on bmc pr newswire. Prnewswire bmc software bmc, a global leader in software. Bmc said tuesday it has reached an agreement with elliott associates lp regarding the houstonbased companys board of directors. How elliott and hess settled a bitter proxy battle the. Bmc helps customers run and reinvent their businesses with open, scalable, and modular solutions to complex it problems. Elliott management, the hedge fund that is pushing bmc software inc. Bmc software agreed on monday to sell itself to a group of investors.
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