BMC Software Inc. (BMC) announced Monday that it has signed a definitive agreement to be acquired by a private investor group led by Bain Capital and Golden Gate Capital together with GIC Special Investments Pte Ltd and Insight Venture Partners for $46.25 per share in cash, or about $6.9 billion.
The agreement was approved by unanimous vote of those directors present.
Elliott Management, which owns 9.6 percent of the BMC common stock, has agreed to vote its shares in favor of the transaction.
The transaction is subject to approval from BMC shareholders, regulatory approvals and other customary closing conditions. It is expected to close later this year.
As per the terms of the agreement, for a period of 30 calendar days, BMC may solicit alternative proposals from third parties.
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