The takeover of card issuer Alliance Data Systems by Blackstone Group may be closer to closing after a decision by the Office of the Comptroller of the Currency last week, insiders told The Wall Street Journal.
Last May, Blackstone bid $81.75 a share for Alliance Data, a provider of card processing services for more than 85 retailers nationwide. Alliance Data’s World Financial Network National Bank has about $3.9 billion in private-label credit card receivables.
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