ADS Drops Buyout Lawsuit Against Blackstone

Law360, New York (February 8, 2008, 12:00 AM EST) -- Just a few weeks after Alliance Data Corp. launched an offensive against Blackstone Group in an effort to force the private equity fund to complete its $6.4 billion buyout of ADS, the payment services company has dropped the suit.

ADS said on Friday that it had voluntarily dismissed the lawsuit against Blackstone subsidiaries Aladdin Solutions Inc. and Aladdin Merger Sub Inc. over the proposed acquisition.

The company said that it had decided to end the litigation “in light of Blackstone's confirmation of its commitment to work...
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