A major shareholder of the Toronto-based legal software company has offered to take the company private for $20 a share, a 70 per cent premium to last week’s closing price. Plantro, the company making the bid, is controlled by former Dye & Durham CEO Matt Proud. (Bloomberg)
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A major shareholder of the Toronto-based legal software company has offered to take the company private for $20 a share, a 70 per cent premium to last week’s closing price. Plantro, the company making the bid, is controlled by former Dye & Durham CEO Matt Proud. (Bloomberg)
Talking point: Dye & Durham confirmed it received an unsolicited offer, but said it isn’t in talks with any buyer. Analysts said the go-private offer may still undervalue the company, which has seen its stock plummet amid a tense campaign led by activist investor Engine Capital, which accused the firm of underperforming and strategic missteps. Proud stepped down as CEO in November following shareholder pressure, and Engine representatives have replaced most of the company’s board members.
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