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Dye & Durham shares up after management group indicates interest to take firm private
TORONTO – Shares of Dye & Durham Ltd. were up 15 per cent after the company said it has received an indication of interest from a shareholder group led by management to take the company private.
The cloud-based software and technology company says its board of directors has started a process to explore and evaluate potential strategic alternatives.
It says the indication of interest from the management group would result in Dye & Durham being taken private at price of $50.50 per share.
Shares in the company were up $6.11 at $47.10 in late-morning trading on the Toronto Stock Exchange.
The company says the strategic review process will be led by a special committee of independent directors.
Dye & Durham completed its initial public offering and began trading on the Toronto Stock Exchange last year at a $7.50 per share.
This report by The Canadian Press was first published May 31, 2021.
Companies in this story: (TSX:DND)
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