Reported Earlier, "Clearlake Renews Pursuit Of Software Firm Blackbaud; Buyout Firm Saw Last Approach Rejected In March 2023; US-Listed Blackbaud Has A Market Value Of About $3.8B" - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Clearlake Capital Group LP is reportedly renewing its efforts to acquire Blackbaud Inc., a cloud software provider, after a previous attempt was rejected in March 2023. Clearlake, which already owns approximately 18.9% of Blackbaud's outstanding stock, is consulting with potential advisers to make a new offer. Blackbaud is currently valued at around $3.8 billion.
April 11, 2024 | 4:28 pm
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Clearlake Capital Group LP is making another attempt to acquire Blackbaud Inc., indicating a potential buyout after a previous bid was rejected. With a significant ownership stake, Clearlake's renewed interest could lead to a buyout offer above the current market value.
The renewed interest from Clearlake Capital in acquiring Blackbaud, especially after a previous rejection, suggests a potential buyout offer that could be at a premium to the current market price. Given Clearlake's significant stake in Blackbaud, this move is likely to have a positive impact on Blackbaud's stock price in the short term, as markets typically react favorably to acquisition news, especially from a party with a substantial existing stake.
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