Learning Technologies Group Share News (LTG)

(Sharecast News) - Learning Technologies Group (LTG) updated the market on the recommended 100p-per-share acquisition of the company by Leopard UK Bidco - a newly-formed entity owned by funds managed by General Atlantic - on Wednesday, with the offer declared final.

The AIM-traded firm said in its update that Goldman Sachs and Deutsche Numis, acting as financial advisers to its independent directors, continued to consider the cash offer fair and reasonable.

It said the independent directors had thus unanimously recommended that shareholders vote in favour of the scheme of arrangement at the upcoming court and general meetings.

The directors who hold LTG shares had already committed to supporting the transaction with their own holdings, representing about 1.75% of the company's issued share capital.

Alongside the cash offer, Leopard UK Bidco was making two alternative offers available to eligible shareholders.

However, Goldman Sachs and Deutsche Numis had not provided an opinion on the fairness of the alternative offers, and the independent directors said they were not making a recommendation between them.

Shareholders were thus encouraged to seek independent financial, tax, and legal advice before making a decision.

The adjourned court and general meetings to approve the acquisition were set to take place on 6 February at Deutsche Numis' London office.

Shareholders would need to submit proxy votes by 4 February.

At 1021 GMT, shares in Learning Technologies Group were up 0.58% at 87.2p.

Reporting by Josh White for Sharecast.com.