Clearlake raises offer for Blackbaud to $4.3 billion (updated)
15/04/2024 11:53
(Adds details on offer, background on previous offer)
April 15 (Reuters) - Clearlake Capital Group said on
Monday it had made a fresh offer to buy Blackbaud BLKB.O in an
all-cash deal that values the software provider at $4.3 billion.
The new, raised offer values each share of Blackbaud at
$80, representing a premium of 4.3% to its last close.
Last year, Clearlake had made an all-cash offer of $71
per share that Blackbaud rejected, claiming it undervalued the
company.
Clearlake said it intends to discuss the terms of the
proposed transaction with Blackbaud.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Anil
D'Silva and Pooja Desai)
((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))