Nobel Learning to evaluate possible sale of company

By Lisa Kerner

Charlotte, N.C., Nov. 7 - The board of directors of Nobel Learning Communities, Inc. will begin the process to determine whether a sale of the company is in its shareholders' best interests.

Nobel Learning said the board's decision follows receipt of the Sept. 22 unsolicited expression of interest from Knowledge Learning Corp.

Knowledge Learning offered to acquire the company for $186 million, or $17 per share, it was previously reported.

The board also took into account the recommendation of a committee of independent directors, which was advised by J.P. Morgan Securities Inc., according to a Nobel Learning news release.

"We have informed Knowledge Learning Corp. that we are prepared to offer to it and to other interested parties a due diligence opportunity, subject to appropriate confidentiality agreements, to review material non-public information about our company in order to enable them to better understand the company's value," Nobel Learning president and chief executive officer George Bernstein said in the release.

Nobel Learning is a national network of 178 nonsectarian private schools, including preschools, elementary schools and middle schools, in 15 states. The company is located in West Chester, Pa.

Knowledge Learning is an early childhood and school-age education and care company based in Portland, Ore.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.