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| Alliance Data Systems Bought by Private Equity Firm |
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Private equity firm
Blackstone Capital Partners says it will buy loyalty card firm Alliance Data Systems Corp. for $7.8 billion, including debt. Blackstone will pay $81.75 per share in cash to take Alliance private. The deal is expected to close by the end of the year, contingent upon regulatory and Alliance Data shareholder approvals. Based on Alliance Data’s 78.7 million outstanding shares as of May 1, the deal is valued at $6.43 billion. Including assumed debt, the total transaction is worth about $7.8 billion. Alliance Data’ board unanimously approved the agreement and recommended that shareholders agree to the transaction, which is expected to close by year-end, subject to antitrust and other regulatory approvals. Dallas-based Alliance Data is a business services company
providing transaction, credit and marketing services, an
industry that has attracted heavy interest from private equity
buyers lately. Payment processor First Data Corp. agreed to be
bought by Kohlberg Kravis Roberts & Co. last month for
$26 billion. The deal prompted several analysts to speculate
that other companies in the space would soon fall to private
equity firms. Buyout firms are attracted to the sector because the businesses produce large amounts of cash flow.
[Compiled from news reports]
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