Learning Technologies 'minded to recommend' takeover bid from General Atlantic.

Learning Technologies surged on Friday as it confirmed it had received a conditional takeover approach from US private equity investor General Atlantic that it would be minded to recommend.

Learning Technologies Group
27 September 2024 16:39:32

Source: Sharecast

General Atlantic has proposed 100p per share with an option for Learning Technologies shareholders to elect for an unlisted equity alternative in respect of some or all of their shares.

The unlisted equity alternative would provide participating LTG shareholders the opportunity to re-invest their shareholding and co-invest in General Atlantic's unlisted acquisition vehicle.

Learning Technologies said the board had considered the proposal and concluded that the cash value was one it would be minded to recommend unanimously to shareholders should a firm intention to make an offer be made.

"Accordingly, the board has decided to engage with General Atlantic and has entered into discussions with General Atlantic in relation to these terms and provide access to confirmatory due diligence."

At 1635 BST, the shares were up 28% at 96p.

N/A

ISIN: N/A

Exchange: N/A

Sell:

N/A

Buy:

N/A

Change:

Date:

Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.