11th Mar 2022 11:24
(Alliance News) - Apollo Global Management Inc on Friday confirmed it is in the early stages of evaluating a cash offer for London-based publishing and education company Pearson PLC.
Pearson shares surged 23% to 800.00 pence per share in London on Friday, the top FTSE 100 gainer. It has a market capitalisation of about GBP6 billion.
Apollo Global Management is a New York-based private equity and investment management firm.
Apollo said that one of its affiliated funds would make the cash offer if it materialises.
"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.
Apollo said that its statement follows recent market speculation around Pearson.
Apollo shares closed 1.9% lower to USD62.07 each in New York on Thursday.
By Greg Roxburgh; [email protected]
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