EDI, the qualification accreditation and educational assessment company, has received an offer from Pearson Plc, the education, business and consumer publishing giant.
The acquisition, at 200p per share, values EDI at £112.7 million (a 61% premium to the share price on Friday March 4th). Pearson announced that the acquisition will enable the creation of an enlarged qualifications group (Pearson owns Edexcel, one of EDI’s principal competitors in the UK market).
The Pearson board has received undertakings from shareholders representing c. 30% of EDI’s shares in issue to accept the offer – including institutional investors JO Hambro and Hargreave Hale.
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