Clearlake exploring new effort to take Blackbaud private - Bloomberg

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Clearlake exploring new effort to take Blackbaud private - Bloomberg
Credit: © Reuters.

According to Bloomberg, Clearlake Capital Group is reportedly exploring another attempt to take Blackbaud (NASDAQ: BLKB ) private.

The publication, citing people with knowledge of the matter, said that Clearlake was assessing the situation again a year after its last approach was rebuffed.

Blackbaud shares have jumped Thursday, currently up 6% at $77.25 per share after hitting a high of almost $80 earlier in the session.

Clearlake, which already owns about 18.9% of Blackbaud's outstanding stock, is said to be speaking with potential advisers regarding making a new offer to Blackbaud's board.

The investment firm has not approached Blackbaud with a proposal yet. However, Bloomberg's sources suggest that the firm has been in talks with banks and direct lenders about financing packages to support a potential takeover.

The publication cautioned that considerations are still at an early stage, with no certainty Clearlake will decide to pursue a transaction.

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