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Blackbaud Rejects Unsolicited Proposal From Clearlake Capital Group

March 27, 2023 — 08:55 am EDT

Written by RTTNews.com for RTTNews->

(RTTNews) - Blackbaud, Inc. (BLKB) announced on Monday its board has rejected an unsolicited, non-binding proposal for Clearlake Capital Group L.P. seeing that it is highly opportunistic and undervalues the company.

The proposal to acquire all of the outstanding shares was for $71 per share in cash.

Further, the provider of software for powering social impact said its Board is open to and regularly evaluates opportunities to enhance value.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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