Online-education Byju's has offered to buy 2U in a cash deal that values the US-listed edtech company at over $1 billion, a person familiar with the matter said.
Byju's made the offer of about $15 a share to 2U's board last week, said the person, who asked not to be named as the bid isn't yet public. The offer represents a 61 per cent premium to 2U's closing price of $9.30 on the Nasdaq on Tuesday and gives the Lanham, Maryland-based company an enterprise value of about $2 billion.
This story is from the June 30, 2022 edition of Business Standard.
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This story is from the June 30, 2022 edition of Business Standard.
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