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Share Price Information for Pearson (PSON)

London Stock Exchange
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Share Price: 937.20
Bid: 936.20
Ask: 936.60
Change: 7.20 (0.77%)
Spread: 0.40 (0.043%)
Open: 927.00
High: 940.00
Low: 925.20
Prev. Close: 930.00
PSON Live PriceLast checked at -

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UPDATE: Pearson confirms Apollo Global Management made two offers

Fri, 11th Mar 2022 13:45

(Alliance News) - Pearson PLC confirmed on Friday that Apollo Global Management Inc had made two cash offers for the company in November and March.

The London-based publishing and education company Pearson said it had rejected both offers made by Apollo.

The confirmation by Pearson comes after the New York-based private equity and investment management firm Apollo made a seperate statement earlier on Friday regarding "recent market speculation" around Pearson.

Pearson shares surged 21% to 784.40 pence per share in London on Friday afternoon, the top FTSE 100 gainer. It has a market capitalisation of about GBP6 billion.

Pearson said the first proposal, received in November, was for a possible cash offer of 800 pence per share. Pearson rejected this offer.

A second proposal at a price of 854.2p per share - including the 2021 dividend of 14.2p per share - was received in March. Pearson said it "considered" the offer but also "unanimously" rejected this offer.

Apollo shares closed 1.9% lower to USD62.07 each in New York on Thursday.

By Greg Roxburgh; gregroxburgh@alliancenews.com; updated by Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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