(Corrects to show P2 Capital Partners is a hedge fund, not private equity firm, in first paragraph)
Jan 16 (Reuters) - U.S. financial technology firm Blackhawk Network Holdings Inc said on Tuesday it would be acquired by private equity firm Silver Lake and New York-based hedge fund P2 Capital Partners in an all-cash deal worth about $3.5 billion including debt.
The offer of $45.25 per Blackhawk share represents a 24 percent premium to the stock’s Friday closing price.
Shares of Blackhawk rose 23 percent to $44.90 in premarket trading.
Pleasanton, California-based Blackhawk offers a range of services including gift cards and prepaid debit cards by partnering with companies such as PayPal, American Express and Western Union.
The deal includes a $1.7-billion equity commitment from Silver Lake.
Sandler O’Neill & Partners was Blackhawk’s financial adviser. Barclays, BofA Merrill Lynch and affiliates of Goldman Sachs and JPMorgan advised Silver Lake.
Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila and Sai Sachin Ravikumar