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Talks for Broadcom Inc. to buy SAS Institute Inc. have ended after the founders of the closely held software company changed their mind about a sale, people familiar with the matter said.
The Wall Street Journal reported Monday that the companies were discussing a deal that would value SAS in the range of $15 billion to $20 billion, including any debt. Following the report, Jim Goodnight and John Sall, who co-founded SAS decades ago and still run the company, had a change of heart and decided not to sell to Broadcom, the people said. Whether another suitor for SAS could emerge isn’t clear.
