NEW YORK (
(DST - Get Report)
, a provider of information processing and software services, has received several buyout overtures from private-equity firms in recent months,
reported, citing people with knowledge of the situation.
One offer was led by activist investor Russell Glass, who told
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
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
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
. In 2007, DST shares traded around $83 a share.
-- Written by Joseph Woelfel
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