(Dow Jones) Alliance Data Systems has sued The Blackstone Group to force the private equity firm to go through with its $6.4bn (â¬4.3bn) acquisition of the credit card billing and payment processor.
The move follows Blackstone's warning Monday that it probably will not complete the buyout because of burdensome conditions imposed by the Office of the Comptroller of Currency, which regulates Alliance Data's credit card issuing bank and whose approval is needed before the deal can close.
