Blackbaud jumps on $80 bid from Clearlake Capital Group (NASDAQ:BLKB)
Press Room
Blackbaud (NASDAQ:BLKB) stock jumps 2.7% during pre-market hours as investment firm Clearlake Capital Group has proposed to acquire all of the outstanding shares of the software firm for $80.00 per share in cash. The bid price of $80 per share is 4.27% premium to Friday’s closing price of $76.72.
The revised bid of $80.00 is higher than earlier offer price of $71.00 that was made on March 24, 2023.
The software firm jumped 5% on Thursday as Clearlake reportedly renews pursuit.
On another note, investment firm Clearlake Capital disclosed 18.2% stake, holding ~9.75M shares in the software company.
