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

|About: Compuware Corporation (CPWR)|By:, SA News Editor

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)