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Article: Pearson takes global lead with NCS buy.
- Article from:
- The Birmingham Post (England)
- Article date:
- August 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 Birmingham Post & Mail Ltd. 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)
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Media group Pearson said yesterday it had wrapped up a pounds 1.65 billion cash deal to buy US education services company National Computer Systems in a move to create the world's leading integrated education company.
Pearson shares fell more than seven per cent after the group said it would finance the agreed deal with a pounds 1.7 billion rights issue, offering shareholders three new shares at a deep discount of pounds 10 each for every 11 owned.
Pearson said it would pay pounds 48 a share for NCS, a deal which will bring together Pearson's course ...