Dye & Durham Said to Receive Take-Private Offer From Plantro (1)

A major shareholder of software company Dye & Durham Ltd. wants to take the company private at a 70% premium to last week’s closing price, according to people with knowledge of the matter.

Plantro Ltd., which is controlled by former Chief Executive Officer Matt Proud, is prepared to offer C$20 a share in cash, according to a letter seen by Bloomberg News. The deal would value the Canadian company at more than C$1.3 billion ($912 million).

The stock soared as high as C$17.39 in Toronto before paring gains to close at C$14.65, up 25% from Friday’s close. It ...