Quest Software Inc. (QSFT) announced the receipt of a proposal from a strategic bidder Thursday morning, to acquire all of the outstanding shares of Quest common stock for $25.50 per share in cash. The company had previously received a $23.00 per share in cash offer from Insight.
Quest Software gapped open sharply higher Thursday, but was range-bound throughout the session. The stock closed up by 2.20 at $26.06 on the highest volume of the year. Quest Software closed challenging the highs of the year, trading at over a 2-week high.
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