Acquisition of Learning Technologies clears all regulatory hurdles

(Sharecast News) - Learning Technologies Group updated the market on its acquisition by Leopard UK Bidco on Thursday, reporting that all necessary regulatory clearances had been received.

The AIM-traded firm said the proposed deal, which values it at 100p per share, was being implemented through a court-sanctioned scheme of arrangement.

It said LTG shareholders approved the scheme at meetings on 6 February, and on 12 February, the UK government confirmed it would take no further action under the National Security and Investment Act.

With all antitrust and regulatory conditions now satisfied, the acquisition remained subject to court approval.

The sanction hearing had been scheduled for 24 March, with the scheme expected to take effect on 31 March.

LTG said shareholders who wished to participate in the alternative share offers would need to submit elections by 1300 GMT on 17 March.

Those who opted for the cash offer would receive settlement automatically.

LTG shares would be suspended from trading on 31 March, and delisted on 1 April.

Final payments and share transfers were expected to be completed by 14 April.

At 0955 GMT, shares in Learning Technologies Group were down 0.1% at 99.1p.

Reporting by Josh White for Sharecast.com.