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Investing.com -- Dye & Durham Limited (TSX: DND) confirmed today that it had received an unsolicited proposal to purchase the company. The proposal, which lacks substantive detail regarding its financing, suggests a purchase price of C$20 per common share. Dye & Durham made it clear that it is not currently in discussions or negotiations with any third party, and there is no agreement, understanding, or arrangement in place regarding such a transaction.
While the company didn’t name the bidder, on Monday, Bloomberg reported that Plantro Ltd., controlled by former CEO Matt Proud, was behind it.
Dye & Durham stock surged 25% on Monday amid the speculation.
The company said typically refrains from commenting on market speculation or rumors. However, it felt compelled to respond to a media report about this unsolicited proposal. The company does not plan to make any further public announcements concerning rumors or speculation unless it deems disclosure necessary and in line with applicable law requirements.
Dye & Durham Limited is known for providing premier practice management solutions that empower legal professionals daily. The company also delivers vital data insights to support critical corporate transactions and enables the essential payments infrastructure trusted by government and financial institutions. With operations in Canada, the United Kingdom (TADAWUL:4280), Ireland, Australia, and South Africa, Dye & Durham has a significant global presence.
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