Quest's price tag keeps going higher

Quest's price tag keeps going higher

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

TOPICS: Banking

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.

Topic: Banking

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1 comment
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  • No deal at any price

    They can have it.