Blackbaud falls after co rejects $4.3 bln takeover deal
16/05/2024 15:55
** Shares of cloud software provider Blackbaud BLKB.O
fall 1.2% to $78.1
** Blackbaud rejected a $4.3 bln takeover offer from private
equity firm Clearlake Capital, saying it significantly
undervalued the co
** PE firm made its latest offer last month, valuing each
share of BLKB at $80, compared with the $71 per share offered in
March last year
** BLKB shares have gained 23% since Clearlake announced its
initial interest
** Including session's gains, BLKB stock down 10.2% YTD
(Reporting by Priyanka.G)
((Priyanka.g@thomsonreuters.com))