Quoting informed sources, Reuters reported Monday that the enterprise management software vendor Quest Software (QSFT) announced earlier to receive $2.32 billion cash takeover offer from Dell, Inc. (DELL).
Dell’s offer price has exceeded the previous $2.17 billion price offered by private equity firm Insight Venture Partners. This new offer is $27.50 per share, a premium of 5%, compared with Quest Software stock closing price of $26.22 last Friday.
Promoted by the news, Quest Software stock price jumped 5.63%, or $1.48, to close at $27.69 per share, with a volume of 9.86 million shares, far above the daily average of 1.69 million shares.