Dye & Durham Soars After Tapping Goldman for Division Sale (2)

Canadian legal software provider Dye & Durham Ltd. has hired Goldman Sachs Group Inc. and Canaccord Genuity Group Inc. to advise it on a potential sale of non-core assets, including its financial services division. The shares jumped.

The Toronto-based company had been on an acquisition spree for several years, but has faced growing investor concerns about its leverage and pledged during a September analyst call to get it under control. The stock suffered a bruising 19% loss that day after it reported a larger-than-expected quarterly loss, which it attributed largely to higher debt financing costs.

“Despite our strong business ...