June 14, 2012 / 8:21 PM / 7 years ago

Exclusive: Dell is "strategic" bidder for Quest: sources

SAN FRANCISCO/NEW YORK (Reuters) - Dell Inc is the “strategic bidder” that offered to buy Quest Software for about $2.15 billion in cash, sources familiar with the matter said, confirming the PC maker is the unidentified acquirer Quest said was topping a rival offer by Insight Venture Partners.

Quest shares leaped more than 9 percent to finish at $26.06 on Thursday, after the software maker said in a statement it had received an offer from a “strategic bidder,” without naming that company.

The offer of $25.50 per share from the unidentified bidder marked a 7 percent premium to Quest’s Wednesday close of $23.86.

On-again, off-again talks between Dell and Quest broke off last month. The PC maker at that time was planning to offer between $23 and $26 per share to buy the software maker.

Dell declined to comment.

Editing by Gary Hill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below