Shares in the listed UK education publisher Pearson rose after it disclosed that it had rejected cash takeover offers from the US private equity firm Apollo Global. The latest offer stood at £7bn, Pearson has been moving from being a traditional textbook publisher, via a series of divestments, to becoming an online learning provider.
Pearson revenue and earnings have fallen in absolute terms and the company has disappointed shareholders repeatedly in recent years. Apollo may increase its offer but Pearson is relying on its 2021 launch of Pearson Plus, a direct-to-consumer subscription offer by newish CEO Andy Bird (ex Disney). The Financial Times (formerly owned by Pearson) has (more or less) recommended that Pearson shareholders should sell.
Pearson Plc
