New Bidders Doom Challenge To Quest Buyout, Atty Says

Law360, Wilmington (May 9, 2012, 6:30 PM EDT) -- With a potential bidding war on the horizon for Quest Software Inc., a shareholder class' challenge to Insight Venture Partners LP's proposed $2 billion buyout of the software maker is now "effectively moot," an attorney for the company told a Delaware judge Wednesday.

Aliso Viejo, Calif.-based Quest announced Wednesday that the 60-day “go-shop” period required in the Insight deal had turned up several competing bids that were “reasonably expected to lead to a superior proposal,” sending the company’s shares soaring by 10 percent to $25.15 per...
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