Pearson Plc Rejects Second Proposal From Apollo

March 11, 2022 — 09:08 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - The Board of Pearson plc (PSO, PSON.L) stated that it has unanimously rejected the second proposal from Apollo Global Management, Inc. Pearson said this highly conditional proposal received on 7 March 2022, regarding a possible cash offer for the entire issued and to be issued share capital of the company, was valued at 854.2 pence per share including the 2021 dividend of 14.2 pence per share.

Pearson plc stated that the first proposal from Apollo was received on 5 November 2021, and was valued at 800 pence per share. It was unanimously rejected by the Board of Pearson.

The Board of Pearson noted that it is mindful of its fiduciary duties in the event that an appropriate proposal is forthcoming. Earlier on Friday, Apollo confirmed that it is in the preliminary stages of evaluating a possible cash offer by certain of Apollo's affiliated funds for Pearson.

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Pearson Plc Rejects Second Proposal From Apollo

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