Update: Clearlake Capital Makes Offer to Acquire Blackbaud for at Least $4.13 Billion-February 2024-www.financetom.com

Update: Clearlake Capital Makes Offer to Acquire Blackbaud for at Least $4.13 Billion

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Update: Clearlake Capital Makes Offer to Acquire Blackbaud for at Least $4.13 Billion

Apr 15, 2024 6:29 AM

09:05 AM EDT, 04/15/2024 (MT Newswires) -- (Updates with details.)

Clearlake Capital Group sent a letter on Sunday to the Blackbaud ( BLKB ) board with a new non-binding buyout offer of $80 per share, according to a Monday filing with the US Securities and Exchange Commission.

The company said it offered to buy Blackbaud ( BLKB ) in March 2023 at $71 per share.

The latest offer values the company at $4.13 billion, based on 51.6 million outstanding shares, according to Bloomberg. Meanwhile, Reuters put the value of the deal at $4.3 billion.

Blackbaud ( BLKB ) did not immediately respond to MT Newswires' request for comment.

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