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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Shares in educational publisher Pearson slump as Apollo pulls out

Pearson Apollo United States
Man silhouetted against board showing Italian equity market index
US private equity firm Apollo said it would not make another bid for Pearson after a third offer was rejected this week Photograph: Tony Gentile/Reuters

Shares in Pearson slumped by as much as 12% after Apollo said it would not make another bid for the educational publisher after having a third offer valuing the company at £7.2bn, including debt, rejected earlier this week.

Investors sent shares in Pearson – whose market value rose by a fifth after the US private equity group revealed it was considering sweetening a second £6.4bn offer that was snubbed earlier this month – plunging, making it the biggest faller on the FTSE 100 on Wednesday.

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