Blackbaud To Review Unsolicited Proposal From Clearlake Capital Group, To Acquire All Of The Outstanding Shares Of Blackbaud For $80.00 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Blackbaud (NASDAQ:BLKB) has received an unsolicited proposal from Clearlake Capital Group to acquire all outstanding shares for $80.00 per share in cash. The Blackbaud Board of Directors is evaluating the proposal to determine the best course of action for the company and its stockholders.
April 15, 2024 | 1:22 pm
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Blackbaud has received a buyout offer from Clearlake Capital Group at $80.00 per share in cash, which is currently being evaluated by the company's Board of Directors.
The unsolicited buyout offer from Clearlake Capital Group represents a significant event for Blackbaud and its shareholders. Such proposals typically lead to a short-term increase in the stock price as the market reacts to the potential for a buyout at a premium. The company's confirmation of the proposal and the Board's ongoing evaluation suggest that the offer is being taken seriously, which could further fuel speculative interest in the stock.
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