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DALLAS (AP) - Shares of credit card services provider Alliance Data Systems Corp. shot up nearly 25 percent Thursday after the company announced it was being acquired by private equity firm Blackstone Group in a deal valued at $6.43 billion.
Blackstone Capital Partners V LP agreed to pay $81.75 per share in cash for Alliance Data, representing a 30 percent premium to the stock's Wednesday closing price of $62.96. Based on Alliance Data's 78.7 million outstanding shares as of May 1, the deal is valued at $6.43 billion.
Alliance Data shares soared $15.50, or 24.6 percent, to $78.46 Thursday.
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