Permira Funds’ sweetened bid for Renaissance Learning that values the company at around $455 million has been accepted, The Wall Street Journal reports. A Permira affiliate will buy the company’s shares held by co-founders Terrance Paul and Judith Paul and their affiliates for $15 a share in cash, while other holders will get $16.60 a share. Previously, Permira offered to acquire the learning-software company for $14.85 a share, a bid that valued Renaissance at approximately $440 million. The new Permira offer matches a competing takeover bid from Plato Learning.
Click here for the story from The Wall Street Journal.