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BMC Will Go Private in $6.9B Deal

May 06, 2013
Jing Chen

BMC Software announced Monday that it has signed an agreement to be acquired by a private investor group led by alternative investment firms Bain Capital and Golden Gate Capital.

The Houston-based business software maker said in a statement that under the terms of the agreement, affiliates of the investor group will acquire all outstanding BMC common stock for $46.25 per share in cash, or approximately $6.9 billion.

$20 billion hedge fund firm Elliott Capital Management, a 9.6% BMC shareholder, has voted in favor of the transaction. eVestment previously reported that Elliott Capital had been pushing for the software company's sale for more than a year in an effort to increase its stock value. 

The transaction is expected to close later this year and is subject to approval from BMC shareholders, regulatory approvals and other customary closing conditions.

With offices around the world including Hong Kong, London and New York, Bain has about $70 billion in assets under management. Based in San Francisco, Golden Gate has over $12 billion in AuM.


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