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  "documentTitle": "BMC Software (BMC)",
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  "authorName": "Elliott Management",
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  "presentationDate": "2012-05-31 00:00:00",
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  "notes": "This slide serves as a credentialing page for the activist investor (Elliott) and summarizes their due diligence process.",
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      "text": "Our conclusion from this analysis is that BMC's assets are valuable and important, but that its future will be increasingly difficult if BMC remains with its existing strategy",
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      "text": "More than $20 billion of assets under management\nExtensive experience in the technology sector, including successful investments in Novell, MSC Software, Epicor Software, Blue Coat Systems, Metrologic, and others\nLong-term view of investments and a focus on creating value for all stockholders - recent examples include URL Pharmaceuticals, Adelphia Communications, WorldCom Communications, and Horizon Offshore",
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      "text": "Elliott has performed exhaustive research on BMC over the last six months, a process which included enlisting external consultants to advise us, as well as speaking with customers, opinion leaders, engineers, competitors, former employees, senior executives in the software industry, investment bankers, private equity firms and other investors\nElliott has surveyed in excess of five hundred users of IT management software, following up with customers who have transitioned to or away from BMC\nOur conclusion from this analysis is that BMC's assets are valuable and important, but that its future will be increasingly difficult if BMC remains with its existing strategy\nNew Board perspectives are needed to fully realize BMC's value potential",
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      "text": "Elliott, founded in 1977, is one of the oldest private investment firms of its kind under continuous management. The firm's investors include pension funds, private endowments, charitable foundations, family offices, and employees of the firm",
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      "kind": "title",
      "text": "About Elliott",
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      "text": "ELLIOTT'S RESEARCH AND PERSPECTIVES ON BMC",
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