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Westar Capital ups bid for Troy.
Byline: Cheryl Meyer and Greg Johnson
Westar Capital LLC said Monday, July 26, it would boost its offer to buy e-commerce security software maker Troy Group Inc. to $4.50 a share from $4 a share.
The Cosa Mesa, Calif., buyout firm said it increased its offer to reflect the $0.38 a share in cash Troy Group generated over the past year.
Westar said its $47.7 million offer is 47% higher than a rival bid of $3.06 a share from Dirk Inc., controlled by Troy Group founder and chairman Patrick Dirk.
Troy Group, of Santa Ana, Calif., had agreed in May to be taken …
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