|
|
Article: Education Management Corporation Announces Agreement to Be Acquired by Providence Equity Partners and Goldman Sachs Capital Partners for $43 per Share in $3.4 Billion Transaction.
- Article from:
- PR Newswire
- Article date:
- March 6, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
PITTSBURGH, March 6 /PRNewswire-FirstCall/ -- Education Management Corporation , a leading provider of private post-secondary education, announced the execution of a definitive agreement to be acquired by Providence Equity Partners and Goldman Sachs Capital Partners in a transaction valued at approximately $3.4 billion. EDMC's Board of Directors unanimously approved the transaction and has recommended its approval by the Company's shareholders.
Under the terms of the merger agreement, the private investors will acquire all of EDMC's outstanding shares of common stock for $43.00 per share in cash, representing a premium of 16.3% to the price of EDMC shares as of ...