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CPWR > SEC Filings for CPWR > Form 8-K on 10-Jun-2014All Recent SEC Filings

Show all filings for COMPUWARE CORP

Form 8-K for COMPUWARE CORP


10-Jun-2014

Regulation FD Disclosure


Item 7.01 Regulation FD Disclosure.

Compuware Corporation ("Compuware") announced today that it has purchased shares of Covisint Corporation ("Covisint") in the market and in private transactions. These purchases were made in order to maintain Compuware's 80% or greater ownership of Covisint common stock in anticipation of the expiration of lock-up agreements applicable to holders of non-qualified stock options to acquire common stock and the subsequent exercise of those options. Compuware is required to maintain 80% or greater ownership of Covisint common stock to enable the contemplated distribution of all or a substantial part of its shares of Covisint to Compuware shareholders to qualify for tax-free treatment under the Internal Revenue Code as previously announced. Furthermore, these purchases were made to reduce the likelihood that Compuware would need to purchase Covisint shares from Covisint under the Master Separation Agreement, as amended, between Compuware and Covisint, and are therefore expected to reduce the cost to Compuware of maintaining greater than 80% ownership of Covisint. The purchases were completed on June 5, 2014 and no further purchases are anticipated.

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