Reuters – Quest Software Gets $2.3B Offer

Quest Software said a strategic bidder proposed to buy the maker of enterprise management software for about $2.32 billion in cash, trumping an earlier offer of nearly $2.17 billion from private investment firm Insight Venture Partners, Reuters reported Monday.

(Reuters) – Quest Software said a strategic bidder proposed to buy the maker of enterprise management software for about $2.32 billion in cash, trumping an earlier offer of nearly $2.17 billion from private investment firm Insight Venture Partners.

 

The new offer of $27.50 per share from the unidentified bidder is at a 5 percent premium to Quest’s Friday close of $26.22.

 

(Reporting by Supantha Mukherjee in Bangalore and Nadia Damouni in New York; Editing by Sriraj Kalluvila)