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Nobel Learning to consider $17-per-share offer from Knowledge Learning
By Lisa Kerner
Charlotte, N.C., Sept. 23 - Nobel Learning Communities, Inc. said its board of directors will evaluate the unsolicited expression of interest from Knowledge Learning Corp.
According to a Nobel Learning news release, Knowledge Learning seeks to acquire the company for $17 per share in cash.
It was previously reported that Knowledge Learning's offer, valued at about $186 million, represents a 33.4% premium over Nobel Learning's closing stock price on Sept. 19.
The proposed transaction would not be subject to a financing condition or other material contingencies, Knowledge Learning said.
Nobel Learning is a national network of 178 nonsectarian private schools, including preschools, elementary schools and middle schools in 15 states. The company is located in West Chester, Pa.
Knowledge Learning is an early childhood and school-age education and care company based in Portland, Ore.
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