By msnbc.com staff
Merger Monday is back.
PC maker Dell said Monday it will pay $2.4 billion to buy Quest Software, an IT management software provider.
Dell?s bid trumps a separate $2.17 billion bid for Quest by private investment firm Insight Venture Partners.
Dell said it will pay $28 per share in cash for each share of Quest for an aggregate purchase price of approximately $2.4 billion, net of Quest?s cash and debt. The transaction is expected to close in Dell?s third fiscal quarter, which ends in late October.
Dell sparked a bidding war for Quest in June when it offered $25.50 per share for the company, outbidding Insight's initial offer in March of $23 per share. Later, Insight bid $25.75 a share. And last week Quest said a strategic bidder that it did not identify offered $27.50 per share for the company. Reuters later identified Dell as that bidder.
In another multi-billion corporate deal, Bristol-Myers Squibb said it will buy biotechnology company Amylin Pharmaceuticals for about $5.3 billion, extending Bristol-Myers? extend its portfolio of diabetes treatments.
The deal will allow Britain?s Bristol-Myers to enter into an alliance with another drugmaker, AstraZeneca, to develop and sell diabetes medication.
Reuters contributed to this report.
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