Wednesday, June 15, 2011

DST Systems Rallies On Takeover Speculation

Shares of DST Systems Inc. (NYSE: DST) soared more than 15% on Wednesday on speculation that the company could be acquired. The company has received several buyout overtures from private equity firms in recent months, including one led by activist investor Russell Glass, Reuters reported on Wednesday. Glass, founder and head of New York investment firm RDG Capital, told Reuters he had teamed up with a private equity firm and approached DST management within the last 30 days to talk about a buyout of the diversified data processing company in the mid-$60s per share range. DST Systems, Inc. provides information processing and software services and products. It operates in two segments, Financial Services and Output Solutions. Stay tuned for more. 

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