Blackstone Hit With Suit Over Failed Merger

Law360, New York (January 30, 2008, 12:00 AM EST) -- Alliance Data Systems Corp. sued two affiliates of the Blackstone Group on Monday, demanding completion of the companies' planned $7.8 billion merger on the same day that it announced that Blackstone had backed out of its proposed purchase.

ADS said it filed suit against two Blackstone entities that were created for the purpose of buying ADS in Delaware state court. The complaint sought specific performance of the merger agreement, which was inked in May 2007.

On Friday Blackstone gave notice under the agreement's terms that it...
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