Melorio offer - Media Coverage

• Learning – from books to building site - The Times

Peter Stiff

Pearson is to buy one of Britain’s largest vocational training companies for £99.3 million.The publisher of Penguin books and the Financial Times said that the acquisition of Melorio, which runs courses and arranges apprenticeships for more than 15,000 people a year, would boost its educational business.Melorio has a particularly big presence in ICT, construction and logistics and focuses on school-leavers and adult learners. Pearson said that it would combine its educational publishing, technology and assessments business with Melorio’s training expertise to offer a better service to learners and employers. The deal should also allow Melorio to expand more quickly outside Britain. Full article
 

• Pearson agrees 99 mln stg offer for Melorio - Reuters

Paul Hoskins and Georgina Prodhan

• Pearson says deal steps up expansion into training sector

• Pearson says undertakings to accept offer 49.9 pct

• Melorio FY EBITDA up 65 pct, sees 52 pct rise this year

• Pearson shares down 2.5 pct, in line with market

LONDON, May 19 (Reuters) - Pearson (PSON.L) agreed to buy vocational training provider Melorio (MLO.L) for 99.3 million pounds ($142 million) in cash, the UK media group's first acquisition since its $2 billion Interactive Data stake sale. Full article
 

• Pearson buys Melorio - FT

Ben Fenton, Chief Media Correspondent

Filling a gap between its testing and educational publishing businesses, Pearson on Wednesday announced an agreed offer for Melorio, a UK vocational training company which is intended as a springboard for similar ventures in emerging markets.Full article

• Pearson to pay £99m for Melorio - City AM

John Dunne

MEDIA group Pearson has agreed to pay £99.3m for vocational training provider Melorio. The publisher which also owns the Financial Times and Penguin books, said it had agreed with Melorio's board to offer 225p a share in cash for the company. Pearson said the move was made in response to the growing global demand for vocational training.Full article
 

• Pearson moves into training with £99m Melorio deal - Evening Standard

Gideon Spanier

Financial Times publisher Pearson today snapped up London-based vocational training company Melorio for £99.3 million at a 31% premium to the share price.Melorio chairman Hugh Aldous said the board unanimously recommended Pearson's 225p-a-share cash deal, although he admitted: “The offer has come at an early stage in Melorio's development. Pearson has approached us, we didn't approach them.” Full article

• Melorious result - Investors Chronicle

Rory Jones

Pearson, the owner of Investors Chronicle, made an all-cash bid for Melorio on Wednesday, valuing the training provider at £88m and providing the opportunity for a tidy 50 per cent profit for readers that followed our buy tip (150p, 2 July 2009). Full article

•  Marwyn hopes to double money on Melorio sale - Growth Business
  

Nick Britton

Vocational training provider Melorio has received a takeover offer from media company Pearson.The offer at 225p a share values Melorio at approximately £120 million. Investment group Marwyn, which launched the company in October 2007 at 100p a share, has given an irrevocable undertaking to sell its entire 26 per cent shareholding to Pearson at 225p. Full article

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