UK Stocks

Apollo examining a cash offer for Pearson

Apollo Global Management is in the preliminary phases of evaluating a possible cash offer for UK education publishing company Pearson.

Pearson shares soared on Friday after US asset management firm Apollo Global Management said it is in the early stages of assessing a potential cash bid for the company.

At 11:30 GMT the FTSE 100 constituent’s shares (LON: PSON) were up 25% at 809.40p.

Read More:

“There can be no certainty that any offer will be made, nor as to the terms on which any such offer might be made,” Apollo said, adding that a follow-up announcement will be issued.

Apollo, located in New York, has until 1700 GMT on April 8 to either announce a formal intention to make a bid or walk away, as per UK takeover laws.

Not Investment Advice Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.

Join the conversation