NEW YORK, Jan 15 (Reuters) – A U.S. judge on Thursday dismissed Alliance Data Systems Corp’s (ADS.N) lawsuit against private equity firm Blackstone Group (BX.N) relating to an aborted deal to buy the credit card processor.
Blackstone agreed to a $6.76 billion deal to buy Alliance Data in May 2007, but the deal collapsed in April 2008.
Alliance sued Blackstone to win a $170 million business interruption payment, claiming the buyout firm breached its contractual obligations by prolonging negotiations with regulators and causing the deal not to be completed.
In an opinion, Delaware Vice Chancellor Leo Strine said he dismissed the claim, according to a copy of the suit.
(Reporting by Megan Davies and Paritosh Bansal; Editing by Phil Berlowitz)