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UK's LTG announces $1.06 bln takeover approach from General Atlantic
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UK's LTG announces $1.06 bln takeover approach from General Atlantic
Sep 27, 2024 12:12 PM

Sept 27 (Reuters) - London-based Learning Technologies

Group (LTG) said on Friday U.S. private equity firm

General Atlantic had approached the corporate education group

regarding a possible cash takeover offer of 792 million pounds

($1.06 billion).

LTG, which provides corporate training tools such as mobile

apps and training videos, said its board was inclined to

recommend the proposed offer of 100 pence per LTG share if

General Atlantic makes a firm offer on those financial terms.

It has also provided the private equity firm access to

confirmatory due diligence.

The proposal follows earlier approaches from General

Atlantic to the board of LTG, the company said.

The group, which operates in more than 30 countries across

North and South America, Europe, the Asia-Pacific, the Middle

East and Africa, was also approached by bargain-hunting buyout

funds, it said last year.

General Atlantic did not immediately respond to a Reuters

request for comment.

($1 = 0.7463 pounds)

(Reporting by Shanima A in Bengaluru; Editing by Shreya Biswas

and Devika Syamnath)

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