Blackstone to acquire Alliance Data for $6.76 billion |
| International Herald Tribune - May 18, 2007 |
Blackstone agreed Thursday to pay $6.76 billion to acquire Alliance Data Systems, a provider of marketing programs and credit card processing for retail companies.
Shareholders will receive $81.75 a share in cash, 30 percent more than the closing price Wednesday, Alliance said. Blackstone, the private equity firm founded by Stephen Schwarzman and Peter Peterson, will also assume $1.1 billion of debt. Senior managers at Alliance, based in Dallas, will remain with the company.
Earnings at Alliance, which helps retailers and catalog companies design marketing campaigns and predict buying behavior, grew at the slowest pace in more than two years in the first quarter as expenses rose. Sales had grown 20 percent in each of the past four years. Blackstone is likely to expand the company before selling it.
Read Full Article from International Herald Tribune
- Posted: 2007-05-18 10:36:56
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