Blackbaud Inc

BLKB: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$33.00	Hhjfvf	Vtthdxgkd

Blackbaud: Clearlake Makes a New $80-Per-Share Offer

Dan Romanoff

Apr 15, 2024

On April 14, Clearlake Capital made a new and unsolicited offer to acquire all of the outstanding shares of Blackbaud for $80 per share, or $4.1 billion in total, in cash, representing a 4% premium to the most recent closing price. In a statement, Blackbaud said its board of directors will review this offer. We think $80 per share is reasonable given our fair value estimate of $77 per share, and we view shares as fairly valued at current levels.

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