EQT V has launched a tender offer of SEK 190 per share for all the shares in Swedish education company AcadeMedia. AcadeMedia shares are listed on the NASDAQ OMX Stockholm.
The bid represent a premium of 11.8 percent compared to the offer made by Providence Equity Partners, and more than 30 percent above closing price on the 30th of March, 2010 (the day prior to the abnormal price movements).
AcadeMedia has been listed on the NASDAQ OMX Stockholm Exchange since 2001.
AcadeMedia is the largest independent education company in Sweden. The company runs pre-schools, compulsory and upper-secondary schools, as well as adult education in 150 locations, which are run through independent schools and companies. The schools have a total of 45,000 students and participants and staff numbering 2,500.
The bid is made from EQT's fifth fund, EQT V, and structured through the holding company, Svensk Utbildning Interessenter. The acceptance period is expected to commence around the 12th of May and end around the 2nd of June 2010.
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