Compuware In Advanced Talks With Private-equity Buyer To Sell Itself: WSJ

(RTTNews) - Compuware Corp. (CPWR), a Detroit-based software developer, is close to a deal to sell itself, the Wall Street Journal reported, quoting people familiar with the matter.

The company is in advanced talks with a private-equity buyer, and a deal may be announced as soon as Tuesday.

While the identity of the likely private-equity buyer is not known, it is possible that the talks could fall apart at the last minute.

Activist hedge fund Elliott Management Corp. tried to buy the company last year, following which the firm launched a sales process.

In 2012, Elliott made an unsolicited $11 per share offer that valued Compuware at about $2.4 billion. Elliott still has a sizeable stake in the company.

CPWR closed up 1.4 percent on Friday at $9.35.