InsideArbitrage Potential Deal: Arco (ARCE) Announces Receipt of Non-Binding Going Private Proposal

  • December 1, 2022

POTENTIAL DEAL DETAILS

StockArco Platform LimitedSymbolARCE
Date Announced11/30/2022Source Press Release
TypeUnsolicited BidAcquiring Company/Person General Atlantic L.P. and Dragoneer Investment Group, LLC

Arco Platform Limited (ARCE), announced that its board of directors has received a preliminary non-binding proposal dated November 30, 2022, from General Atlantic L.P. and Dragoneer Investment Group, to acquire all of the outstanding Class A common shares of the Company that are not held by such parties or Oto Brasil de Sá Cavalcante and Ari de Sá Cavalcante Netoor their respective affiliates.

Update(s):

December 7, 2022: A group of Arco Platform Ltd. (ARCE) shareholders sent a letter to directors urging them to reject a deal to take the company private.

January 26, 2023: Arco Platform Limited (ARCE), announced that proposal is under evaluation by the Special Committee, and no decisions have been made with respect to the response to the Proposal.

 

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