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Stocks B / Blackboard
|Subject: Re: What is going on with Blackboard||Date: 10/13/2011 3:18 PM|
|Author: mj2boogie||Number: 199 of 199|
I jumped the gun (sorry, I haven't looked at my investments in over 2 months - I can't tell you how comfortable it is to be able to do that, thanks to my LTBH approach, and the MFSA!!!).
I found info on the transaction for the buyout of my shares in my Scottrade account history (dated 10/5/11), showing the purchase at $45/sh, not a bad return of 9.6% from my purchase at $41/sh in January 2011 (5.5% annualized).
However, the MFSA page for BBBB has only the price chart, and no other data or links, and the BBBB.DL page (linked from the Recommendations page) has only the links to earlier coverage in the newsletters and updates. Neither has the buy and sell dates or prices. I assume this is an oversight by MFSA.
I did find the following links that explained the buyout / merger:
Blackboard Shareholders Approve Merger Agreement with Affiliates of Providence Equity 9/19/11(http://www.blackboard.com/About-Bb/Media-Center/Press-Releas...)
Providence Equity Partners Completes Acquisition of Blackboard 10/4/11
"Blackboard Inc. (NASDAQ: BBBB) today announced the completion of its acquisition by an investor group led by affiliates of Providence Equity Partners in an all-cash transaction valued at approximately $1.64 billion in enterprise value, plus the assumption of approximately $136 million in debt.
As previously announced, the transaction was approved by Blackboard stockholders at a special meeting of stockholders held September 16, 2011. Pursuant to the terms of the acquisition agreement, Blackboard stockholders will receive $45.00 in cash for each share of Blackboard common stock. The transaction represents a 21 percent premium over the closing price of $37.16 per share on April 18, 2011, the day before Blackboard publicly announced that it was evaluating strategic alternatives." (http://www.blackboard.com/About-Bb/Media-Center/Press-Releas...)
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