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Finance

Quest's price tag keeps going higher

Some strategic bidder really wants to woo Quest Software away from private equity groups.
Written by Larry Dignan, Contributor on

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.

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