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News Breaks
February 12, 2013
17:10 EDTLTRELearning Tree board special committee will not pursue sale of company
As reported in Learning Tree SEC filing dated January 31, the special committee of the board of directors received a letter from Dr. Collins, chairman and CEO of the company, withdrawing his offer to purchase all of the outstanding shares of the company. Dr. Collins has indicated to the special committee that he believes that the company's focus at this time should be on its operations in light of the current business environment and that he does not support the company pursuing a sale process. The company's second largest stockholder has indicated to the committee that he is supportive of Dr. Collins' view not to pursue a sale process. In light of the foregoing, the committee has concluded that a sale of the company is not feasible at this time and should not be pursued.
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