Edison Schools (NASDAQ:EDSN)
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Merger to Take Edison Private Complete
NEW YORK, Nov. 14 /PRNewswire-FirstCall/ -- Edison Schools , the nation's
leading public school partner, announced that it has completed its merger to
take the company private with a company formed by H. Christopher Whittle,
Edison's Founder and Chief Executive Officer, and an affiliate of Liberty
Partners, a New York based private equity fund. Edison will be privately held
and Edison's shares will no longer be listed on Nasdaq. Edison's stockholders
are entitled to receive $1.76 for each share of Edison common stock they owned
as of the closing merger.
About Edison Schools
Founded in 1992, Edison partners with school districts, charter boards, and
community groups to raise student achievement through its research-based school
design, aligned assessment systems, interactive professional development,
integrated use of technology and other proven program features. Edison students
are achieving annual academic gains well above national norms. Edison Schools
now serves more than 132,000 public school students in over 20 states through
four different business channels: (1) the management of schools for school
districts, (2) charter schools, (3) summer and after-school programs, and (4)
achievement management solutions for school systems. The Company operates 130
full-year schools and 200 summer schools.
Between 1992 and 1995 and in ongoing efforts, Edison's team of educators and
scholars conducted research to develop its school design and support systems.
Edison opened its first four schools in August 1995 and has grown in every
subsequent year. For more information, please visit
http://www.edisonschools.com/.
Any statements in this press release and any other press release issued by
Edison on or about the date hereof about future expectations, plans and
prospects for Edison, including statements containing the words "believes,"
"anticipates," "plans," "expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various important
factors, including the risk factors discussed in our most recent quarterly
report filed with the SEC. The forward-looking statements included in this press
release represent Edison's estimates as of November 14, 2003. Edison anticipates
that subsequent events and developments will cause its estimates to change.
While Edison may elect to update these forward-looking statements at some point
in the future, Edison specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as representing Edison's
estimates or views as of any date subsequent to November 14, 2003.
DATASOURCE: Edison Schools
CONTACT: Adam Tucker, VP, Communications of Edison Schools,
+1-212-419-1602
Web site: http://www.edisonschools.com/