Sam Boughedda

Q2 Holdings Dow Jones News reports that the bank software company (NYSE:) has put off its sale after receiving lower bids than expected.

Bloomberg reported that at the start of this year the company had been approached by private-equity companies. Bloomberg also stated in May that they were considering options.

Dow Jones cited sources who were familiar with the situation and stated that Austin-based Morgan Stanley was hired to act as an advisor. The company received bids for May which came in lower than expected.

The report further stated that one banker said the deal was “not worth the premium required to get a deal done.”

There is still potential for the company’s to talk with potential buyers in the next couple of months.

After a Monday 14% drop, Q2 shares are currently at $45.60. This is well below the high of almost $150 in early 2021.