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BMC Could Reportedly Go for Around $6.5 Billion

Elliott Associates has been agitating for the company to sell itself since last year

Bain Capital and Golden Gate Capital are the leading contenders to buy BMC Software for more than $6.5 billion, according to Reuters, which says they made a binding offer on April 22.

The price the pair offered was more than that of a rival consortium consisting of KKR, TPG Capital and Thoma Bravo.

The wire service couldn't learn the exact bid but it appears to be in the range of $45-$50 a share. Expecting a deal the stock is currently trading at $45 and change for a market cap of $6.51 billion.

The rival consortium could sweeten the pot or BMC could decide not to sell. But it appears it will try to finalize a deal in the coming days.

Elliott Associates, the activist hedge fund that got Novell sold off and owns close to 10% of BMC, has been agitating for the company to sell itself since last year, claiming management wasn't moving into SaaS and cloud.

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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at) or paperboy(at), and by phone at 516 759-7025. Twitter: @MaureenOGara

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