REG - Apollo Mgmt. IX L.P. Pearson PLC - Statement re Pearson plc

PearsonAnnouncement

30/03/2022 10:45

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RNS Number : 5867G  Apollo Management IX, L.P.  30 March 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE")

 

FOR IMMEDIATE RELEASE

30 March 2022

 

Statement regarding Pearson plc ("Pearson")

 

Further to the announcements made by Apollo Global Management, Inc. and its
subsidiaries ("Apollo"), on behalf of certain of its affiliated funds, and
Pearson on 11 March 2022, Apollo notes that it has been unable to reach
agreement with the board of Pearson as to the terms of an offer for the entire
issued and to be issued share capital of Pearson.

 

Accordingly, Apollo confirms that it does not intend to make an offer for
Pearson. This is a statement to which Rule 2.8 of the Code applies.

 

For the purposes of Rule 2.8 of the Code, Apollo, on behalf of its affiliated
funds, and any person acting in concert with it, reserves the right to
announce or participate in an offer or possible offer for Pearson and/or to
take any other action which would otherwise be restricted under Rule 2.8 of
the Code within the 6 months after the date of this announcement in the
following circumstances:

 

a)   with the agreement of the Board of Pearson;

 

b)   following the announcement by or on behalf of a third party of a firm
intention to make an offer for Pearson;

 

c)   following the announcement by Pearson of a proposal for a "whitewash"
(as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the
Code) or for a reverse takeover (as defined in the Code); or

 

d)   if there has been a material change of circumstances (as determined by
the Panel on Takeovers and Mergers).

 

 

Enquiries:

 

For investor enquiries regarding Apollo, please contact:

Noah Gunn, Global Head of Investor
Relations                              +1 212 822
0540

 

 

For media enquiries regarding Apollo, please contact:

Joanna Rose, Global Head of Corporate Communications           +1
212 822 0491

 

 

Publication on website

A copy of this announcement will be made available, subject to certain
restrictions relating to persons resident in restricted jurisdictions, on
Apollo's website at www.apollo.com by no later than 12 noon (London time) on
the business day following the date of this announcement.  For the avoidance
of doubt, the content of this website are not incorporated into, and do not
form part of, this announcement.

About Apollo

 

Apollo is a global, high-growth alternative asset manager. In our asset
management business, we seek to provide our clients excess return at every
point along the risk-reward spectrum from investment grade to private equity
with a focus on three business strategies: yield, hybrid, and equity. For more
than three decades, our investing expertise across our fully integrated
platform has served the financial return needs of our clients and provided
businesses with innovative capital solutions for growth. Through Athene, our
retirement services business, we specialize in helping clients achieve
financial security by providing a suite of retirement savings products and
acting as a solutions provider to institutions. Our patient, creative, and
knowledgeable approach to investing aligns our clients, businesses we invest
in, our employees, and the communities we impact, to expand opportunity and
achieve positive outcomes. As of December 31, 2021, Apollo had approximately
$498 billion of assets under management. To learn more, please visit www.
apollo.com.

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