Alliance Data's announced intention to sue the Blackstone Group highlights the trickiness involved in ending a deal. A good strategy, of course, is to somehow blame the banks, if possible. In the case of the Blackstone Group-Alliance Data deal--at one time worth more than $6 billion--the endgame remains unclear. The degree to which bank financing is an issue has not been revealed. In any case, Alliance Data would like the $170 million break-up fee. The original agreement allowed the Blackstone Group to get out of paying the break-up fee if the expiration date passed without a deal; the deadline passed last week. Alliance seems willing to move on. As for other private equity firms, there are other deals to somehow exit.  

For more:
- here's a MarketWatch article

Related Article:
Another deal gone bust?

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