Join The Discussion

 

Bridge collapse on I-35 north of Austin

SALADO, Texas (AP) — Emergency crews are responding to a reported bridge collapse along an interstate in Central Texas.

read more >

Amazon begins Prime Now program in Dallas area

If you just have to have it now, as in one hour, you can, at least in the Dallas area, as Amazon.com Inc. announced Thursday it will offer Prime Now.

read more >

Latin-inspired restaurant set to open in downtown Fort Worth

Downtown Fort Worth’s dining scene is about to get spicier with the opening of a new restaurant featuring Latin-inspired coastal cuisine.

read more >

Texas jobless rate falls as employers add workers

Texas unemployment fell to 4.3 percent during February for the sixth straight month of declines, the Texas Workforce Commission reported Friday.

read more >

Westchester Plaza manager says "business as usual" for now

The future of a redevelopment plan for the 50-year-old Westchester Plaza on Fort Worth's Near Southside is unclear.

read more >

 

BMC Software sold for $6.6B in cash

 

NEW YORK (AP) — BMC Software Inc. has agreed to be sold to a private investor group for about $6.6 billion in cash.

The Houston-based maker of system management software for businesses said Monday that the deal is for $46.25 per share. That's less than 2 percent above Friday's closing stock price of $45.42.

With roughly 143 million shares outstanding, according to FactSet, that values the deal at $6.6 billion. The companies said the deal is worth $6.9 billion.

The investor group is led Bain Capital and Golden Gate Capital and also includes Special Investments and Insight Venture Partners.

BMC said that Elliott Management, which owns 9.6 percent of the BMC's stock, has agreed to vote its shares in favor of the deal, which is expected to close later this year. The hedge fund had asked the company to consider selling itself last year. The stock then jumped in March after reports surfaced that the company was considering buyout offers from several private equity firms.

Under the terms of the deal, BMC can solicit alternative proposals for 30 days.

Shares of BMC slipped 8 cents to $45.34 in morning trading. The stock is up 14.6 percent year-to-date, slightly more than the Standard & Poor's 500, which is up 13.2 percent.


 

< back

Email   email
hide
Catch
How 'bout them Cowboys?