Simpson Thacher is representing a management-led investor group in its announced $3.8 billion acquisition of Laureate Education, Inc. Under the terms of the merger agreement, shareholders of the company will receive $60.50 in cash for each share they own. The large, multi-national consortium is being led by Douglas L. Becker, Chairman and Chief Executive Officer of Laureate, and includes Kohlberg Kravis Roberts & Co.; Citigroup Private Equity; S.A.C. Capital Management, LLC; SPG Partners; Bregal Investments; Caisse de depot et placement du Quebec; Sterling Capital; Makena Capital; Torreal S.A.; and Southern Cross Capital. The agreement includes a "go shop" provision, allowing the Special Committee to solicit, receive and evaluate superior proposals over the next 45 days with cooperation from Mr. Becker and Laureate management. The transaction is expected to be completed in mid-2007, subject to, among other things, obtaining shareholder and regulatory approvals.
Laureate Education, Inc. offers a broad range of career-oriented undergraduate and graduate programs to over 240,000 students through campus-based and online universities located in Latin America, Europe, and Asia.
The Simpson Thacher team includes: David Sorkin, Ellen Patterson, James Wallace, Elizabeth Cooper, Jeremy Saks, Borja Marcos and Matt McBride (M&A), James Cross and Anthony Vernace (Credit), Aimee Adler and Jarrett Hoffman (Benefits) and Steve Todrys and Nancy Mehlman (Tax).