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CORRECTED-UPDATE 1-Dye & Durham gets C$3.4 bln offer from management-led group

(In second paragraph corrects $ figures to C$)

May 31 (Reuters) - Dye & Durham Ltd, a Canadian cloud-based software maker, said on Monday it had received an offer from a management-led shareholder group to acquire the company for about C$3.4 billion ($2.8 billion).

The shareholder group’s offer to take Dye & Durham private for C$50.5 per share represents a premium of about 23% to its last close of C$40.99.

The buyout offer comes less than a year after the company went public, in July 2020.

A newly formed special committee of independent directors will explore and evaluate potential strategic alternatives, the company said, including a merger, the sale of the company or its parts, and the sale of some of its assets, among others.

Led by Matthew Proud, the Toronto-based company makes technology products for legal and business professionals, providing them access to government registry data, and simplifying the document search process, its website shows. It has operations in Canada, the United Kingdom, Ireland and Australia.

The company said it expects C$220 million in proforma earnings before interest, taxes, depreciation and amortization following recent acquisitions and reflecting its business performance.

$1 = 1.2072 Canadian dollars Reporting by Sohini Podder in Bengaluru Editing by David Holmes

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