Alliance Data permits Blackstone to buy stock ahead of merger

By Lisa Kerner

Charlotte, N.C., Aug. 31 - Alliance Data Systems Corp. entered into a waiver agreement allowing Blackstone Management Partners V, LLC and its affiliates to purchase up to 5% of the company's outstanding common stock prior to the acquisition of Alliance by a Blackstone affiliate.

On May 17, Alliance agreed to be acquired by Aladdin Holdco, Inc. for $81.75 cash per share in a transaction valued at $7.8 billion, including debt.

Alliance Data stockholders approved the deal on Aug. 8, according to a company news release.

Dallas-based Alliance Data provides marketing, loyalty and transaction services.

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