Blackbaud up after report of Clearlake Capital's renewed push for taking it private
11/04/2024 17:12
** Shares of cloud software provider Blackbaud BLKB.O rise
6.8% to $77.86
** Clearlake Capital Group LP renews effort to take
Blackbaud private, Bloomberg reports, citing people with
knowledge of the matter
** The investment firm is talking to potential advisers
about making a fresh offer to Blackbaud's board, after its offer
last year was rejected by the software provider - report added
** Clearlake Capital, the largest shareholder, has 18.9%
stake in Blackbaud
** Clearlake has not approached BLKB with an offer yet, and
there's no certainty Clearlake will decide to pursue a
transaction - report said
** Including sessions gains, BLKB stock down ~12% this year
(Reporting by Priyanka.G)
((Priyanka.g@thomsonreuters.com))