Quest's price tag keeps going higher

Summary:Some strategic bidder really wants to woo Quest Software away from private equity groups.

Quest Software said it received a bid from a "strategic buyer" for all the outstanding shares of the company for $27.50 a share in cash.

The previous bid for Quest was $25.75 a share. Obviously, some company wants to beef up its software operations with Quest and is willing to outbid private equity groups. Dell had been rumored as a buyer.

To date, Quest hasn't named its strategic bidder. Quest received a $23 a share bid from Insight Venture Management and Vector Capital. Quest received a higher bid and then the buyout group stepped up to offer $25.75 a share in cash.

Quest's board still officially recommends the Insight/Vector buyout, but that group has to step up to match $27.50 a share in cash.

Topics: Banking


Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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