Higher Bid For Phoenix Technologies; Stock Jumps (PTEC)

Shares of Phoenix Technologies

have surged 5.82% after the company said that it has received a $150 million cash bid from an unnamed third party, which trumped an earlier offer that was made by PE firm Marlin Equity Partners. In the last month, PTEC has jumped almost 30% as a bidding war as erupted for the small-cap company. Phoenix Technologies Ltd. (

) designs, develops and supports core system software, operating system software and application software for personal computers and other computing devices.