Quest Software Inc. said Monday it plans a "modified Dutch auction" tender offer to buy back about $150 million worth of its common shares.
The business software maker said the offer covers up to 10.7 million shares, or about 11.3 percent of its shares outstanding.
The Aliso Viejo, Calif.-based company said it will pay no more than $14 or no less than $12.50 per share under the offer.
The company's shares closed Monday near the midpoint of that range, finishing up 32 cents, or nearly 2.5 percent, at $13.24.
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