:Blackbaud Inc on Monday rejected a buyout offer from its largest shareholder Clearlake Capital that valued the software firm at $3.78 billion.Clearlake made an offer of $71 per share in cash, a premium of nearly 23 per cent to Blackbaud's Friday close.Blackbaud's shares were up 15 per cent at $66.99 i
:Blackbaud Inc on Monday rejected a buyout offer from its largest shareholder Clearlake Capital that valued the software firm at $3.78 billion.
Blackbaud's shares were up 15 per cent at $66.99 in premarket trading on Monday, paring some gains from earlier when it disclosed the offer. High inflation, weak consumer demand and the Ukraine crisis have slammed global stocks with the tech sector among the worst hit. Blackbaud provides donor management software for non-profit organizations, foundations and corporations.
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