|
Learning Technologies Group PLC on Friday said it would back a £792 million takeover bid from US private equity firm should one be forthcoming. The London-based digital learning and talent management company said it received a cash takeover proposal from GASC ABF LP and some of its managed or advised funds, a grouping collectively referred to as General Atlantic, worth 100 pence per share. The proposal values Learning Technologies Group’s issued share capital at £792.2 million. Shareholders will also have an ‘unlisted equity alternative’ to the takeover bid. This would allow them to re-invest their shareholding and co-invest in General Atlantic’s unlisted acquisition vehicle. ‘The board has considered the proposal and concluded that the cash value of the proposal is at a value that the board would be minded to recommend,’ Learning Technologies said. ‘There can be no certainty that an offer will be made nor the terms of any offer.’ Learning Technologies shares rose 25% to 93.50 pence each in London on Friday, giving it a market value of £740.5 million. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
