Blackbaud rejects $71/shr offer from stakeholder Clearlake
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Blackbaud (BLKB) gains after rejecting unsolicited proposal from Clearlake as 'opportunistic'
March 27, 2023 10:25 AM EDTShares of Blackbaud, Inc. (NASDAQ: BLKB) are up almost 13% on Monday following an announcement by the software company that its Board has received, thoroughly reviewed, and rejected an unsolicited, non-binding proposal from Clearlake Capital Group, L.P. to acquire all of the outstanding shares of the Company for $71.00 per share in cash.
Blackbaud notes that its Board is open to and regularly evaluates opportunities to enhance value, and the Clearlake proposal... More
