Reuters: Private Equity: BMC Software rejects Elliott's proposal to sell co

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BMC Software rejects Elliott's proposal to sell co May 14th 2012, 11:44 Mon May 14, 2012 7:44am EDT May 14 (Reuters) - BMC Software Inc said U.S. hedge fund group Elliott has urged a sale of the company and acquired more than 5 percent stake in the business management software maker. BMC said its board rejected Elliott's proposal and said it was not in the best interest of the stockholders. The company also adopted a stockholder rights plan to fight any unsolicited attempt to acquire it.

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