Riverdeep sends documentation on MBO to shareholders

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.