If Pearson shareholders are irked that the offer on the table looks pretty stingy, they know where they should direct their ire. Successive management teams have made it easy for private equity to launch a low-ball offer.
The emergence of two bids for the education specialist from private equity firm Apollo Management poses a multitude of questions for investors: is the strategic overhaul convincing enough to drive a turnaround in profit growth? Should they hold out for an improved offer from Apollo? Might a rival bidder emerge?
Apollo is a logical suitor. It has form not just in owning an education business, but in bringing it into the 21st century via its acquisition of McGraw Hill Publishing in 2012. It increased its digital income from
