NEW YORK, November 21, 2011: Pearson, the world's leading learning company, today announced that it will acquire Global Education and Technology Group (NASDAQ: GEDU), a leading provider of test preparation services for students in China who are learning English.
Pearson has agreed to acquire the company for $11.006 per American Depository Share. The acquisition is subject to the approval of Global Education's shareholders and is expected to complete in the fourth quarter of 2011.
Morgan Lewis advised Pearson on the transaction, which-according to league tables Capital IQ and Thomson Reuters-will be the largest acquisition of a Chinese entity by a United Kingdom-based company in 2011. Business and Finance partners Charles Engros and Robert Dickey led the Morgan Lewis team that consisted of Business and Finance of counsel Min Duan and associates Yi (Ella) Ge, Shawmir Naeem, Eric Tajcher, and Lynda Vaillant.
For more information about the deal, please see Pearson's press release