Compuware (CPWR) reaches an agreement with activist shareholder Elliott Management to nominate 2 new board members and form an advisory committee "to assist in the Company's ongoing review and advise the Board on strategies to further enhance the company's value."
In conjunction, Elliott has agreed to a limited standstill under which it will vote in favor of Compuware's proposed slate of directors. The agreement is effective until the earlier of the end of the year and 30 days before the deadline for nominations.
Tech veterans John Freeland and Stephen Schuckenbrock are the new nominees. The slate of 11 directors includes 10 independent nominees, with 6 being added in the last year.