NEW YORK (TheStreet) -- DST Systems (DST), a provider of information processing and software services, has received several buyout overtures from private-equity firms in recent months, Reuters reported, citing people with knowledge of the situation.
One offer was led by activist investor Russell Glass, who told Reuters he had teamed up with a private-equity firm and approached DST within the last 30 days to talk about a buyout in the mid-$60s per share range.
DST also held discussions in March and April with another private-equity firm that was also willing to make a bid in the mid-$60s price range, a source close to the situation told Reuters.
Shares of DST closed Tuesday at $48.31, up 88 cents, or $1.9%.Glass, who has taken a minority position in DST within the past two years, told Reuters he was rebuffed by DST's management because the company didn't want to sell while it is grossly undervalued. A bid of $65 a share would value DST at about $3 billion, or a 35% premium to its closing price on Tuesday, according to Reuters. In 2007, DST shares traded around $83 a share. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV