CA and Wyly: "Let's call the whole thing off"

The dispute between Computer Associates and renegade shareholder Sam Wyly has come to an abrupt end. It has emerged Wyly, through his vehicle Ranger Governance, has accepted a $10m payment to drop his year-long power struggle for the software company.

In a statement, both parties were full of praise for each other. CA CEO Sanjay Kumar said: "In conversations with Ranger over the last few days, it has become clear that Ranger and we are largely in agreement on corporate governance issues."

Wyly responded: "With the changes that CA has made, and under the leadership of Sanjay Kumar and his management team, I am confident that CA is on a course to being recognised as the gold standard in good corporate governance."