Skadden Reps Permira In $440M Renaissance Buy

Law360, New York (August 16, 2011, 4:59 PM EDT) -- European private equity firm Permira Funds is acquiring Renaissance Learning Inc. for $440 million, the education technology company said Tuesday.

Under the deal, Permira has agreed to acquire outstanding shares of Renaissance for $14.85 per share, representing a 26 percent premium over the company's Aug. 15 closing stock price of $11.83.

“This transaction enables Renaissance Learning to expand its impact in education in the U.S. and abroad and represents a very positive outcome for our employees, shareholders and the schools we serve,” Renaissance Learning Chairman Terrance...
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