Permira Wins Out With $455M Bid For Renaissance

Law360, New York (September 27, 2011, 12:33 PM EDT) -- Education technology company Renaissance Learning Inc. said Tuesday that it would be bought by Permira Funds for roughly $455 million after the European private equity giant increased its initial offer by $15 million to match a competing bid by Renaissance rival Plato Learning Inc.

Renaissance had originally agreed to Permira's offer of $14.85 per share, but Plato swooped in with a superior $15.50 offer. Permira countered with an offer of $15 per share for stock held by company co-founders Terrance and Judith Paul and their family...
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