Compuware Shareholders Approve Proposed Acquisition By Thoma Bravo

(RTTNews) - Compuware Corp. (CPWR) said Monday that at the special meeting, its shareholders voted to approve the proposed definitive merger agreement with private equity firm Thoma Bravo, LLC.

The deal follows a thorough review by the Compuware Board of Directors of strategic options for Compuware.

Upon completion of the merger, valued at about $2.4 billion, Compuware shareholders will have received an aggregate value of $10.75 per share for each share of Compuware common stock they own as of the effective time of the merger, which includes a net cash payment of $10.389188 per share of common stock, after deducting the corporate level taxes associated with the Covisint spin-off to Compuware shareholders, as well as the per-share value of the Covisint shares distributed to holders of Compuware equity as of October 20, 2014, the record date for the Covisint spin-off.

The companies currently expect the merger to be completed later this month, following the satisfaction or waiver of all conditions to the merger.