Marketing Co. Alliance To Buy Online Payment Biz For $450M

Law360 (October 29, 2020, 3:05 PM EDT) -- Data-driven marketing company Alliance Data said Thursday that it has inked a deal to buy digital payment company Bread in a $450 million cash and stock deal guided by Davis Polk and Simpson Thacher.

Davis Polk & Wardwell LLP-led Alliance Data said its purchase of Bread, which is being advised by Simpson Thacher & Bartlett LLP, will add 400 installment loan customers to the more than 145 branded credit card programs it manages for its clients, according to a news release and Alliance's website.

Of the $450 million venture capital-backed Bread will receive, $100 million will come in the form of...

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