Quest Software Announces Receipt of Superior Proposal at $25.50 per Share
Quest Software, Inc. (NASDAQ: QSFT) announced the receipt of a proposal from a strategic bidder to acquire all of the outstanding shares of Quest common stock for $25.50 per share in cash.
Following the recommendation of the special committee of independent directors established by the Company's Board of Directors , the Company's Board of Directors determined that the proposal constitutes a Superior Proposal, as such term is defined in the Agreement and Plan of Merger dated March 8, 2012 (the “Insight Merger Agreement”). In making its recommendation, the Special Committee consulted with its independent financial advisors and outside legal counsel.
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