ALMOST 80% of shareholders in Coventry based Education Development International have accepted the cash offer for the firm from publishing group Pearson.
Financial Times publisher Pearson said that as of 1pm on Tuesday, it had received acceptances from 79.88% of the EDI shareholders.
The remaining 20% of shareholders have until May 6 to accept the offer and Pearson said anyone who had not yet responded to the offer needed to do so as soon as possible.
The offer price represents a premium of 61% above EDI’s closing price on March 4.EDI has already recommended its shareholders to accept the offer.
The two companies announced on March 7 that an agreement had been struck which would see Pearson take over the education specialist in a deal worth £112m.
Pearson has said the acquisition will complement its existing work-based learning business and will create an enlarged qualifications group offering a comprehensive range of vocational and academic services in the UK and abroad.
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