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Clearlake raises offer for Blackbaud to $4.3 billion
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Clearlake raises offer for Blackbaud to $4.3 billion
Apr 15, 2024 4:18 AM

April 15 (Reuters) - Clearlake Capital Group said on

Monday it had made a fresh offer to buy Blackbaud ( BLKB ) in an

all-cash deal that values the software provider at $4.3 billion.

The new, raised offer values each share of Blackbaud ( BLKB ) 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 ( BLKB ) rejected, claiming it undervalued the

company.

Clearlake said it intends to discuss the terms of the

proposed transaction with Blackbaud ( BLKB ).

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Anil

D'Silva and Pooja Desai)

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