Alliance Data Systems, the US credit card billing payment processor, dropped its lawsuit attempting to force The Blackstone Group to consummate their $6.4bn (â¬4.4bn) buyout, saying the private equity company indicated it is "committed to working toward" closing the deal.
Alliance's shares shot up on the news, rising $4.79, or 9.3%, to $56.25. That compares with Blackstone's offer in May of $81.75 a share.
