Dye & Durham said its board of directors was exploring its options after a shareholder group led by company management expressed interest in taking the company private in what would be a $3.4-billion deal. (The Logic)

Talking point: The shareholder group would pay $50.50 per share for the legaltech company, a 23 per cent premium to its market value as of Friday afternoon, and more than six times higher than its July 2020 IPO price. Dye & Durham shares were trading more than 18 per cent higher Monday afternoon. Still, at least one large shareholder opposes the deal: Jeff Mo, lead manager of Canadian small-cap strategies at Mawer Investment Management, told Bloomberg that the firm believes Dye & Durham should remain public. However, Mo said Mawer, which owns nine per cent of the company, would reconsider if the process resulted in a bidding war.