Elliot Management Corp has written to the Board of Directors of Compuware Corporation (NASDAQ:CPWR), proposing to acquire all of the companies shares of common stock for a price of $11 per share or a total of $2.3 billion. “We believe in the quality of Compuware’s assets – however, its institution, profitability and growth have meaningfully underperformed,” says Elliott’s letter.
Sun Life Financial Inc (NYSE:SLF) agrees to sell its domestic US annuity business and certain life insurance businesses to Delaware Life Holdings, which is owned by shareholders of Guggenheim Partners, for a base price of $1.35 billion. The business will be renamed as Delaware Life Insurance Company and the transaction is expected to close by second quarter of 2013.
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According to a report in the Sunday Times, Exxon (NYSE:XOM) is holding discussions with London-based IGas to buy a stake in its Bowland shale project located in Lancashire. The development comes after the UK government lifted an 18 month ban on fracking last week.
Glaxo Smith Kline plc (NYSE:GSK) announced the approval by the US Food and Drug Administration of its Fluarix Quadrivalent (Influenza Virus Vaccine) for the immunisation of children (three years and older) and adults to help prevent disease caused by seasonal influenza (flu) virus subtypes A and type B contained in the vaccine. Fluarix Quadrivalent is the first intramuscular vaccine to cover against four influenza strains.