June 26, 2012 |
The bidding war for Quest Software Inc. continued, this time with a mystery buyer making a more than $2.3-billion offer for the company that makes software for businesses and governments. The latest bid of $27.50 a share came from a "strategic bidder," Quest said, and is nearly $2 higher than the June 15 offer of $25.75 from private firms Insight Venture Partners and Vector Capital. Quest, which is based in Aliso Viejo, declined Monday to say who the new offer was from. It marked the fourth bid since Insight started the bidding at $23 a share in March.
June 25, 2012 |
Quest Software Inc., the software maker that agreed to be bought by a group led by Insight Venture Partners, said it has received a higher offer of $27.50 a share in cash, the third takeout deal the company has announced. The bid from an unidentified stategic suitor is superior to a $25.75-a-share offer Quest accepted from Insight last week, the Aliso Viejo, California-based software company said today in a statement. Dell Inc. had previously offered to acquire Quest, according to a person familiar with the matter.
June 20, 2012 |
Quest Software Inc. accepted a sweetened $2.17-billion bid from Insight Venture Partners and agreed to the addition of Vector Capital to the buyout group. Insight's new cash offer of $25.75 a share topped a bid of $25.50 that Aliso Viejo-based Quest received last week. That offer came from personal computer maker Dell Inc., a person familiar with the matter said. The deal's termination fee was increased to $25 million from $6.3 million, Quest said. Quest said March 9 that it agreed to be acquired by Insight for $23 a share, and two months later said it received several other proposals that it anticipated would lead to a superior offer.
June 15, 2012 |
A bidding war may be erupting over Quest Software Inc., an Aliso Viejo company that makes software for businesses, organizations and governments. In a filing with regulators Thursday, Quest said it has received an offer for the company that is higher than a previous bid of $2 billion from New York investment group Insight Venture Partners. Quest declined to identify the latest bidder but said that it was proposing to pay $25.50 a share, or $2.17 billion. Insight is offering $23 a share, or about $2 billion.
March 10, 2012 |
Technology firm Quest Software Inc. has agreed to go private in a deal valued at $2 billion. The Aliso Viejo software company said Friday that it had agreed to be acquired by private equity firm Insight Venture Partners for $23 a share in cash, a 19% premium over its closing price Thursday. The announcement led to a surge in Quest's stock price, with shares rising $4.67, or 24%, to close Friday at $24.07, as some investors bought on the prospects of a bidding war for the company.
March 9, 2012
Quest Software said Friday that it's being bought by investment firm Insight Venture Partners for $23 per share, which the company says values it at $2 billion. Shares of Quest, which helps companies manage databases and provides other corporate IT services, are up 24 percent, or $4.57, to $23.97 in afternoon trading. Insight is putting up $210 million and borrowing $1.2 billion to pay for the shares outstanding, not including CEO Vinny Smith's 34 percent stake. Smith is keeping his stake, which will be rolled over into the private company, and will remain as CEO. He owns 28.3 million shares, which are worth about $549 million, according to FactSet.