Private equity firm Apollo Global’s third offer to buyout Pearson, made on March 28, was “unanimously rejected” by the board, which turned down 884.2 pence per share (or roughly $8.8 billion). The board says the offer “significantly undervalued the Company and its future prospects,” though the stock market has generally disagreed with that assessment: The shares had been trading for between 600 and 650 pence a share for the few months prior to the offer, and have not sustained at the offer levels since late 2018 and early 2019. Share are down about 5 percent today on the news, trading […]
