MLO Melorio

International education and information company Pearson PLC (PSO) said Wednesday it has agreed the terms of a recommended cash offer for U.K. vocational training group Melorio PLC (MLO.LN) which values the firm at GBP99.3 million.

MAIN FACTS:

-Offer will be 225 pence in cash for each Melorio share.

-Offer price represents a premium of 31% to the closing price of 171.5 pence per Melorio share on May 17; 57% to the average closing price of 143.4 pence per Melorio share over the three months prior to May 17.

-In aggregate, Pearson has received irrevocable undertakings (including undertakings from the directors of Melorio) to accept the offer in respect of 19.68 million Melorio shares, representing 50% of Melorio's existing issued share capital.

-Acquisition is expected to be earnings enhancing to Pearson in 2011, its first full year.

-Acquisition is also expected to generate a return on invested capital above Pearson's weighted average cost of capital in 2011.

-The consideration will be financed in its entirety through Pearson's existing cash resources or debt facilities.

-Pearson shares closed Tuesday at 994.5 pence valuing the company at GBP8.07 billion. Melorio shares closed at 214 pence valuing the company at GBP84.35 million.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com

Grafico Azioni Melorio (LSE:MLO)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Melorio (LSE:MLO)
Storico
Da Giu 2023 a Giu 2024