Pearson Snaps Up Teaching And Test Prep Co. For $294M

Law360, New York (November 22, 2011, 8:30 PM EST) -- Pearson PLC, a global media and education company, will acquire language training and test preparation services company Global Education & Technology Group Ltd. for approximately $294 million, the companies announced Monday.

U.K.-based Pearson will acquire, through a wholly owned merger subsidiary, all outstanding Global Education shares, subject to approval by Global Education's shareholders and customary closing conditions. The deal is expected to be completed by the fourth quarter of 2011.

Pearson will pay $155 million in cash for Global Education, which provides educational services to students...
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