Blackboard (BBBB) to Consider Strategic Alternatives; Retains Barclays to Weigh Recent Offers

Blackboard (NASDAQ: BBBB) Tuesday announced that it has retained Barclays Capital as its financial advisor in response to recent unsolicited, non-binding proposals to acquire the company.

The company is evaluating the offers as well as strategic alternatives to enhance shareholder value, including whether other third parties would have an interest in acquiring the company at a price and on terms that would represent a better value for its shareholders than having the company continue to execute its business plan on a stand-alone basis.

Michael Chasen, President and CEO of Blackboard, said, "Our Board is committed to fulfilling its fiduciary duties to act in the best interests of shareholders. We remain focused on our company's strategic plan and are committed to delivering the highest quality products and sustained client satisfaction."

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