Laureate Education's Shareholders Approve Buyout

July 09, 2007

The management-led buyout of Laureate Education Inc. won approval from about 59 percent of the stockholders, the company announced today. As a result, the company, which owns and operates a network of universities in Asia, Europe, and Latin America, as well as the all-online Walden University, will soon cease trading on the Nasdaq market.

In a news release, Douglas L. Becker, the company’s chairman and chief executive officer, said the buyout, at $62 a share, will allow Laureate to focus on its international growth.

Mr. Becker announced plans for the buyout in January at a price of $60.50 per share, but subsequently raised the offer after several major shareholders balked at the price. —Goldie Blumenstyk