Wednesday, June 20, 2012

Quest Software Bidders Up Offer

Aliso Veijo-based Quest Software said late Tuesday that Insight Venture Partners and its affiliates have raised their offer for the firm to $25.75 per share in cash, up from their original offer of $23.00 per share in cash. The increased offer comes after a new, un-named strategic bidder offered $25.50 per share for the company last week. Quest said the new offer is a 33 percent premium to its closing stock price prior to the announcement of the Insight acquisition deal. The other strategic bidder on Quest is believed to be Dell Computer.