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News Breaks | | | | September 28, 2012 | | 09:22 EDT |  | LTRE | Learning Tree says receives additional indications of interest
Learning Tree International announced that the Special Committee of the Board of Directors of Learning Tree has retained Sullivan & Cromwell LLP as its independent legal counsel and is in the process of engaging an independent financial advisor. As previously announced on September 19, 2012, Learning Tree’s Board of Directors established the Special Committee comprised of independent directors to consider, among other things, a non-binding proposal received from David C. Collins, the Chairman of the Board and Chief Executive Officer of Learning Tree, and his wife, Mary C. Collins, to acquire all of the outstanding shares of Learning Tree that they and their affiliates do not already own. In addition to the proposal received from David and Mary Collins, the Special Committee has received additional indications of interest regarding an acquisition of Learning Tree since the announcement of the Collins’ proposal. In light of the receipt of the Collins’ proposal and the additional indications of interest, the Special Committee, with the assistance of its legal and financial advisors, will review all strategic alternatives available to Learning Tree. | |
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