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Pearson Rejects Revised Apollo Buyout; Shareholders Will Have to Wait for Management’s Promises

March 30, 2022
By Michael Cader

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 […]

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Filed Under: Finance

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