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Note from Liberum:
Pearson are offering a 61% premium to Fridays close for Education Development International, valuing the business at 113m.
PEARSON buys another vocational training business. They are offering a 61% premium to Fridays close for Education Development International (EDD LN) valuing the business at 113m.
EDI is a leading provider of education and training qualifications and assessment services, with a strong reputation for the use of information technology to administer learning programmes and deliver on-screen assessments.
Although the premium looks large it equates to PER 14x Sept 2011 but 3.3x EV/Sales.