Clearlake Sweetens Offer for Blackbaud to $4.1 Billion (2)

Clearlake Capital Group LP has made a sweetened bid to acquire Blackbaud Inc., offering $80 a share about a year after its last approach was rebuffed by the cloud software provider.

The investment firm on Sunday sent a letter to the Blackbaud board with the non-binding offer, according to a filing Monday with the US Securities and Exchange Commission. The bid values the Charleston, South Carolina-based company at $4.13 billion based on 51.6 million shares outstanding, according to data compiled by Bloomberg.

Bloomberg News reported last week that Clearlake was talking to potential advisers about making the fresh offer. ...