Shares of Pearsons (NYSE: PSO) , a U.K.-based publisher of educational materials, rose dramatically in early trading on March 11, jumping as much as 19.5% as a new day got underway on Wall Street. The big news sort of came from Apollo Global Management (NYSE: APO) . Here's a quick look at what's going on here.
Pearsons released an official response today outlining recent interactions with private equity shop Apollo Global. Basically, rumors of a takeover offer were revealed and the publisher decided to explain what was actually going on. The big-picture story is nothing, right now, because Pearsons has rejected Apollo's advances. However, based on what's happening, investors seem to think that Pearsons is in play, as they say on Wall Street.
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Why Pearsons Stock Jumped 19.5% at the Open Today