Quest Software (QSFT) Concludes 'Go-Shop' Period, Sees Multiple Proposals
Get Alerts QSFT Hot Sheet
Join SI Premium – FREE
Quest Software, Inc. (Nasdaq: QSFT) today announced the expiration of the 60-day “go-shop” period provided for under the terms of the previously announced merger agreement between the Company and affiliates of Insight Venture Partners.
During the “go-shop” period, representatives of Morgan Stanley & Co. LLC, financial advisor to a Special Committee of the Company’s Board of Directors, engaged in a broad solicitation of strategic and financial parties potentially interested in pursuing an alternative transaction with the Company.
Prior to the expiration of the “go-shop” period, the Special Committee received multiple written proposals for potential alternative transactions with the Company. After consulting with its financial and legal advisors, the Special Committee has determined, pursuant to Section 5.2(a) of the Merger Agreement, that multiple proposals are reasonably expected to lead to a superior proposal, and also has determined that the parties from which the Special Committee received these alternative proposals are “Qualified Go-Shop Bidders”.
During the “go-shop” period, representatives of Morgan Stanley & Co. LLC, financial advisor to a Special Committee of the Company’s Board of Directors, engaged in a broad solicitation of strategic and financial parties potentially interested in pursuing an alternative transaction with the Company.
Prior to the expiration of the “go-shop” period, the Special Committee received multiple written proposals for potential alternative transactions with the Company. After consulting with its financial and legal advisors, the Special Committee has determined, pursuant to Section 5.2(a) of the Merger Agreement, that multiple proposals are reasonably expected to lead to a superior proposal, and also has determined that the parties from which the Special Committee received these alternative proposals are “Qualified Go-Shop Bidders”.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Shake Shack (SHAK) Announces Resignation of Jonathan Sokoloff from Board, Cuts Board Size to 10 from 11
- Wabtec (WAB) Secures Systems and Software Deal with ARTC to Support the Interoperability of Australia’s National Rail Network
- Vanda Pharmaceuticals (VNDA) Adopts Limited Duration Stockholder Rights Plan
Create E-mail Alert Related Categories
Corporate NewsRelated Entities
Morgan StanleySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!