Thursday, July 25, 2013

BMC Stockholders Give Nod To Merger

Houston-based BMC Software, the developer of enterprise software, said late last night that its stockholders have approved its merger agreement with the investment group made up of Bain Capital, Golden Gate Private Equity, Insight Venture Management, and GIC Special Investments. Those private equity investors are paying $46.25 per share for BMC, in a deal worth a total of $6.9 billion. As part of the announcement, BMC also said it has reached a deal with activist shareholder Elliott Group, to settle litigation which had been filed over the acquisition.