Blackstone China

Blackstone buys China’s Pactera

The world’s largest private equity firm is leading a consortium to take the China-based consulting and technology services provider private for about $600 million.
Stephen Schwarzman, Blackstone’s chairman and chief executive.
Stephen Schwarzman, Blackstone’s chairman and chief executive.

A Blackstone-led consortium has sealed a deal to buy Nasdaq-listed Pactera Technology International, a China-headquartered consulting and technology services provider, for about $600 million.

Pactera shareholders will receive $7.30 a share, a premium of 39% over the closing price of $5.26 per ADS on May 17 - the day before Pactera first said it had been approached by the Blackstone-led consortium.

The take-out price has wavered during negotiations and fell as low as $7 in September after Pactera issued a full-year profit warning. 

The news came as Blackstone released its third-quarter earnings results, up 3% year-on-year and assets under management hit a record...

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