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Article: BLACKSTONE GROUP ENDS MERGER DEAL WITH ALLIANCE DATA...

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Cardline
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April 25, 2008
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The on-again, off-again deal whereby the Blackstone Group was to acquire Alliance Data Systems Corp. is now off-again. "Blackstone informed us after the market closed Friday that it was not going forward with the purchase of Alliance Data," Alliance Data CEO J. Michael Parks said yesterday during a conference call. Parks added that Dallas-based Alliance Data has filed a lawsuit to collect a $170 million "business-interruption fee" from the New York-based investment company. "Blackstone could easily have closed the transaction but chose not to do so and, frankly, it's not any more complicated than that," Parks said. The Blackstone Group declined ...

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