11th Apr 2019 16:30
LONDON (Alliance News) - Wey Education PLC on Thursday said it has terminated its acquisition of an undisclosed small UK online eduction business.
Educational services company Wey announced in February that it was in the process of finalising heads of terms for the acquisition. However, due to "further information gained during the due diligence process" Wey will not move forward with the deal and has ended negotiations.
Few details were revealed about the aborted acquisition, excepting that the unnamed company focused on the business-to-business provision of education online and had a turnover of less than around GBP500,000.
Shares in Wey Education closed down 2.6% at 5.21 pence each on Thursday.
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WEY.L