Riverdeep sent its shareholders documentation yesterday which relates to the proposed management buyout. These documents will ask shareholders to vote on the MBO on March 4.
Shareholders are being offered $1.51 per share or options to take shares in the new company, Hertal. This offer values the company at $376.3m or €349.1m.
The deal is thought by many to be low, and is not made better by the fact that it is denominated in dollars, which is presently falling against the euro.