Exclusive: Dell bids $2.32 billion for Quest Software - source

Reuters News
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Posted: Jun 25, 2012 10:21 AM
Exclusive: Dell bids $2.32 billion for Quest Software - source

NEW YORK (Reuters) - Quest Software Inc has received a superior proposal from Dell Inc, the "strategic bidder" that has offered to buy the maker of enterprise management software for about $2.32 billion, a source close to the matter said.

Dell's $27.50 per share cash bid beats an earlier offer of nearly $2.17 billion from a buyout group led by private investment firm Insight Venture Partners.

A Dell spokesperson declined to comment.

(Reporting By Nadia Damouni; Editing by Gerald E. McCormick)