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Byline: Nicola Hobday in London
Irish educational software company Riverdeep Group plc said Friday it hadn't received another bid to rival the $376.3 million cash buyout deal from its management and recommended that shareholders accept the offer.
Chairman and CEO Barry O'Callaghan and founder and director Patrick McDonagh bid for Riverdeep on Jan. 20 through Hertal, a buyout vehicle created for the offer, at [Euro]1.42 ($1.54) per share. The Dublin-based company gave potential rival bidders 31 days to put forward a higher offer.
Riverdeep said in its statement Friday, Feb. 21, that although eight potential bidders had expressed interest in the …