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Ticker	Price	Change($)	Change(%)	Shares	Volume	Prev Close	Open	Gain($)	Gain(%)

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Why Arco Platform Shares Are Jumping Today

Author: Shivani Kumaresan | May 01, 2023 12:21pm

Educational services provider Arco Platform Limited (NASDAQ:ARCE) shares are gaining after receiving a revised non-binding acquisition proposal from General Atlantic L.P. and Dragoneer Investment Group, LLC valuing the company at $13.00 per share in cash.
The revised proposal represents a premium of 19% from Friday's closing price of $10.90.
In November 2022, ARCE received an $11.00 per share cash proposal from the parties, representing an approximately 22% premium over the November 30, 2022, closing price of $9.04.
The Special Committee has agreed to negotiate definitive agreements concerning a potential transaction.
However, the company specified no agreement had been reached as to the terms of a potential transaction.
In 2021, Dragoneer and General Atlantic invested $150 million in ARCE through the purchase of convertible senior notes.
Price Action: ARCE shares are trading higher by 14.7% at $12.50 on the last check Monday.

Posted In: ARCE