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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Global Education & Technology Grp. Ltd ADS (MM) | NASDAQ:GEDU | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.70 | 0 | 01:00:00 |
From Jun 2019 to Jun 2024
Pearson PLC (PSON.LN), the publishing and education company that owns the Financial Times newspaper, Monday said it has agreed to acquire Global Education and Technology Group (GEDU), a provider of test preparation services for students in China who are learning English, for $155 million in cash.
MAIN FACTS:
-Price is comprised of a headline price of $294 million or $11.006 per American Depository Share offset by an expected cash balance of $139 million at closing.
-Acquisition expected to complete in the fourth quarter of 2011.
-Pearson expects Global Education to generate revenues of $65 million in 2011.
-Pearson expects the acquisition to be broadly earnings neutral in 2012, its first full year, including integration costs.
-From 2013, it expects the acquisition to enhance adjusted EPS and to generate a cash return on invested capital above Pearson's weighted average cost of capital.
-Pearson shares closed Friday at 1,103 pence valuing the company at GBP9 billion.
-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; rory.gallivan@dowjones.com
1 Year Global Education & Technology Grp. Ltd ADS (MM) Chart |
1 Month Global Education & Technology Grp. Ltd ADS (MM) Chart |
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