Ropes & Gray Reps Blackstone In $680M Pactera Bid

Law360, New York (May 20, 2013, 4:24 PM EDT) -- Pactera Technology International Inc. is fielding a nonbinding go-private bid lobbed Monday by private equity giant Blackstone Group LP and company insiders that places its value higher than $680 million and could provide a boost after a sluggish start to 2013.

The Chinese company said it would form a special committee to independently evaluate the proposal. Under the deal’s terms, shareholders would receive $7.50 per share, a premium of more than 40 percent over Nasdaq-listed Pactera’s Friday close.

Behind consortium leader Blackstone, Pectera’s nonexecutive chairman and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.