Compuware's (CPWR) board rejects Ellington Management's $11/share buyout offer, instead...

Compuware's (CPWR) board rejects Elliott Management's $11/share buyout offer, instead launching a 3-year cost-reduction program of at least $60M along with its intent to spin off the Covisint business to Compuware shareholders. The board also announces a $0.50/share annual dividend set to begin in Q1 on FY2014. (PR)

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