---
schema_version: "secwatch.filing_event.v1"
accession: "0001280058-23-000012"
form_type: "8-K"
ticker: "BLKB"
cik: "0001280058"
company_name: "BLACKBAUD INC"
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T14:30:54.618167+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001280058-23-000012
- form_type: 8-K
- ticker: BLKB
- cik: 0001280058
- company_name: BLACKBAUD INC
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1280058/000128005823000012/0001280058-23-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1280058/000128005823000012/blkb-20230327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001280058-23-000012
- JSON: https://secwatch.observer/filing/0001280058-23-000012.json
- Plain text: https://secwatch.observer/filing/0001280058-23-000012.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.