Shares in educational publisher Pearson slump as Apollo pulls out

The company, which was on a steady recovery path, was biggest faller on FTSE 100 on Wednesday

Shares in Pearson slumped by as much as 12% after Apollo said it would not make another bid for the educational publisher after having a third offer valuing the company at £7.2bn, including debt, rejected earlier this week.

Investors sent shares in Pearson – whose market value rose by a fifth after the US private equity group revealed it was considering sweetening a second £6.4bn offer that was snubbed earlier this month – plunging, making it the biggest faller on the FTSE 100 on Wednesday.

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Source: theguardian
Shares in educational publisher Pearson slump as Apollo pulls out