PSO - Houghton Mifflin second biggest holder said to have issues with Veritas Capital sale

Houghton Mifflin's (NASDAQ:HMHC) second biggest shareholder is said to have concerns about the company's $2.8B sale to Veritas Capital. Burgundy Asset Management has some reservations about the sale to Veritas, according to a Dealreporter item from late Thursday. It wasn't known if Burgundy would tender its shares for the transaction. The opposition follows at least fourth other shareholders that have come out against the deal, including Engine Capital, which on Wednesday said it won't tender its shares for the combination. Last month HMHC holder Breach Inlet said it's "extremely disappointed" by the company's decision to sell themselves to Veritas for a "paltry" $21/share. Earlier today, Pearson Plc (NYSE:PSO) disclosed that it rejected an $8.5B offer from Apollo (NYSE:APO) to purchase the education company.

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Houghton Mifflin second biggest holder said to have issues with Veritas Capital sale