Learning Technologies Group PLC (AIM:LTG, OTC:LTTHF) said it is minded to accept a takeover offer worth 100p or around £800 million from specialist tech investor General Atlantic.
There is an equity alternative that allows LTG shareholders to re-invest in General Atlantic's unlisted acquisition vehicle.
LTG said that the offer is subject to several pre-conditions and follows earlier approaches from General Atlantic.
“The board has considered the proposal and concluded that the cash value of the proposal is at a value that the board would be minded to recommend unanimously to LTG shareholders," said LTG's statement.
“Accordingly, the board has decided to engage with General Atlantic and has entered into discussions with General Atlantic in relation to these terms and provide access to confirmatory due diligence.”