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Stock impact report

Clearlake Makes Sweetened, $4.1 Billion Offer to Buy Blackbaud [BNN Bloomberg (Canada)]

Jefferies Financial Group Inc. (JEF) 
Last jefferies financial group inc. earnings: 10/25 04:42 pm Check Earnings Report
Company Research Source: BNN Bloomberg
The investment firm on Sunday sent a letter to the Blackbaud board with the non-binding offer, according to a filing Monday with the Securities and Exchange Commission. The bid values the Charleston, South Carolina-based company at $4.13 billion based on 51.6 million shares outstanding, according to data compiled by Bloomberg. Bloomberg News reported last week that Clearlake was talking to potential advisers about making the fresh offer. The firm already owns about 18% of Blackbaud's outstanding stock, according to the filing. Blackbaud rejected an unsolicited $71 per share cash offer from Clearlake in March 2023, which the company said at the time was “highly opportunistic” and significantly undervalued the “tangible momentum” in its business. Blackbaud shares have fallen 12% this year to $76.72. Founded in 1981, Blackbaud is a cloud software provider focused on “the social good community,” according to its website. It works with nonprofits, foundations and education institu Show less Read more
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