Educational-software maker Blackboard has been charged on the grounds that its proposed sale to Providence Equity Partners undervalues the company, Bloomberg reports. The private equity firm has agreed to buy Blackboard for $1.64 billion.
An investor Astor BK Realty Trust has filed the lawsuit stating that the deal is worth about $50-65 per share. The private equity firm had offered to pay $45 a share in cash for the buyout.
Click here for the story from Bloomberg.