Software Firm Dye & Durham Soars on $2.8 Billion Management Bid

Canadian software provider Dye & Durham Ltd. surged almost 18% after a shareholder group led by management offered to buy the company for about C$3.4 billion ($2.8 billion), less than a year after it went public.

The Toronto-based company said Monday it will form a committee of directors to evaluate its options following an approach by executives who want to take it over for C$50.50 a share. The shares closed at C$48.24 in Toronto, up 17.7%.

The disclosure may bring financial buyers into the arena, according to Canadian Imperial Bank of Commerce analyst Stephanie Price. “We see private equity ...