trending Market Intelligence /marketintelligence/en/news-insights/trending/_dkwy9nd5rbu0phmoiu0xg2 content esgSubNav
In This List

Cambium Learning Group agrees to merger with Veritas Capital affiliates

Blog

Banking Essentials Newsletter 2021: December Edition

Blog

Automating Credit Risk Surveillance Using Statistical Models

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling

Case Study

A Chinese Bank Takes Steps to Minimize Risks as it Supports International Trade


Cambium Learning Group agrees to merger with Veritas Capital affiliates

Affiliates of private equity firm Veritas Capital agreed to acquire Cambium Learning Group Inc.

The merger transaction, which was approved by Cambium Learning's board, would see the company's outstanding common stockholders receiving $14.50 in cash per share at closing. The company's credit facility will also be repaid at closing.

Cambium Learning's majority stockholder, which is affiliated with private equity firm Veronis Suhler Stevenson, delivered a written consent approving the proposed merger. The deal is expected to be completed during the fourth quarter of 2018 or the first quarter of 2019, pending regulatory approvals and customary conditions.

Prior to the deal completion, Cambium Learning will close its purchase of fellow education technology company VKidz Holdings Inc. Outstanding shareholders of VKidz will receive $11.50 in cash per common share as part of the acquisition.

Macquarie Capital was the financial adviser to Cambium Learning, while Lowenstein Sandler LLP was its legal counsel. Schulte Roth & Zabel LLP was the legal counsel of Veritas Capital.