Educate Gets Buyout Bid
A management group proposes an $8 a share deal.
Educate (EEEE) got a nonbinding management buyout proposal valued at $8 a share in cash.
The Baltimore-based education company said its board will review the proposal, which comes from CEO R. Christopher Hoehn-Saric, President Peter J. Cohen, unit president Christopher J. Paucek, Sterling Capital Partners and co-investors including Citigroup Private Equity.
Shares closed Friday at $7.06.
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