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So what: Blackboard announced it has received "unsolicited, non-binding proposals to acquire the company." It did not name the bidders and has retained Barclays Capital as its financial advisor.
Now what: Blackboard is evaluating the acquisition offers as well as other strategic alternatives and continuing with its current plans on a stand-alone basis. With revenue of $447 million and sales expense running 41% of revenue, a strategic acquirer with a large distribution platform could potentially boost revenue and margins. EPS has declined from the year-ago quarter for two consecutive quarters and is forecast to do the same for the next two quarters, tarnishing the appeal of continuing to go it alone.
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.