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Epiq Systems: A New Bid May Be Close


Epiq Systems, Inc. (EPIQ) ("Eqip") offers software solutions for lawyers in the U.S. and all over the world. It has two business branches: Technology and Bankruptcy. The Technology segment offers eDiscovery managed services for the litigation departments of law firms. The Bankruptcy branch offers solutions for companies that file a plan of reorganization.

The company was eyed by St. Denis J. Villere & Company, an activist investor. This shareholder has a 16.22% stake in the company and is pursuing a sale. In addition, the hedge fund P2 Capital Partners, LLC, which owns 16.9% of Epiq, offered $20 per share in cash in Sept. 2014. This last offer was rejected by the board, which had retained Credit Suisse to review its strategic alternatives and adopted a poison pill.

In my opinion, these sophisticated shareholders and other restructuring initiatives undertaken by the company show that the company might unlock value to… Read More …