Blackbaud, Inc. (BLKB) announced on Monday its board has rejected an unsolicited, non-binding proposal for Clearlake Capital Group L.P. seeing that it is highly opportunistic and undervalues the company.
The proposal to acquire all of the outstanding shares was for $71 per share in cash.
Further, the provider of software for powering social impact said its Board is open to and regularly evaluates opportunities to enhance value.
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