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.
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“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.