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

Global Education & Technology Grp. Ltd ADS (MM) (NASDAQ:GEDU)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024 Click aqui para mais gráficos Global Education & Technology Grp. Ltd ADS (MM).
Global Education & Technology Grp. Ltd ADS (MM) (NASDAQ:GEDU)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024 Click aqui para mais gráficos Global Education & Technology Grp. Ltd ADS (MM).