July 2, 2012 / 1:42 PM / 5 years ago

Timeline: Dell wins Quest Software bidding war

(Reuters) - Dell Inc, the No. 2 U.S. PC maker, offered to buy Quest Software Inc for $2.4 billion in cash, potentially ending a bidding war with private investment firm Insight Venture Partners for the enterprise management software maker.

Following are the milestones in this fight:

March 9 - Quest enters into an agreement with Insight Venture Partners to go private in an all-cash deal worth about $2 billion, or $23 per share. Shares jump 24 percent to close at $24.07.

May 9 - Quest says it received multiple alternative proposals during its go-shop period. Shares closed up 10 percent at $25.17.

May 25 - Reuters reports that Dell is planning to offer between $23 and $26 per share to buy Quest.

June 1 - Negotiations between Dell and Quest break down but lower-level representatives from both companies remain in touch, Reuters reports, citing sources. Quest shares fall 5 percent to close at $23.74.

June 14 - A strategic bidder proposes to buy Quest for about $2.15 billion, or $25.50 a share. Reuters confirms that the strategic bidder is Dell. Quest shares rise 9 percent to close at $26.06.

June 19 - Insight Venture Partners raises its bid for Quest to $2.17 billion, or $25.75 a share. Shares close flat at $26.52.

June 25 - Dell proposes to buy Quest for about $2.32 billion, or $27.50. Insight to have the right to match rival offers or adjust its own bid. Shares rise nearly 6 percent in morning trade.

July 2 - Dell says it will buy Quest Software for $2.4 billion in cash.

Reporting by Supantha Mukherjee in Bangalore, Nadia Damouni in New York

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