Phoenix Technologies Ltd., which makes system software for computers and servers, said Monday it has received a $150 million cash bid from an unnamed third party, trumping an earlier offer from private equity firm Marlin Equity Partners.
On Aug. 18, Phoenix agreed to be acquired by Marlin for $139 million, or $3.85 per share. That marked a 27 percent premium to Phoenix’s closing price of $3.02 earlier that day before the announcement. The deal is subject to approval by Phoenix shareholders.
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