Blackbaud board unanimously rejects Clearlake's $71/share unsolicited acquisition proposal

BLACKBAUD INC

Blackbaud board unanimously rejected Clearlake Capital's unsolicited bid of $71.00 per share in cash.
Board called the proposal 'highly opportunistic' and said it 'significantly undervalues' the company.
CEO cited strong momentum on Rule of 40 strategy; company will not engage on the offer.

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