Freshfields Advises Pearson In $143M Melorio Deal

Law360, New York (May 19, 2010, 3:21 PM EDT) -- Publisher Pearson PLC has agreed to purchase U.K. vocational training company Melorio PLC for £99.3 million ($143 million) in a deal aimed at strengthening Pearson's position in the vocational learning market.

The companies announced the deal Wednesday, with U.K.-based Pearson, which owns book publisher Penguin Group and the Financial Times newspaper, agreeing to pay £2.25 per Melorio share.

The price represents a 56.9 percent premium over the average closing price of Melorio stock over the past three months, they said in a statement.

Melorio's board of...
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