Kroton, Anhanguera change merger plan

Kroton, Anhanguera change merger plan

M&A

Anhanguera shareholders are set to reap a smaller reward for the company’s merger with Brazilian education rival Kroton than originally planned, after the two companies announced a change to the deal terms on Wednesday. Kroton will issue 135m new shares for Anhanguera stockholders, down from the 199m that was agreed when the deal was first announced in April last year. That means Anhanguera shareholders will end up owning 33.5% of the merged company, down from the 42.5% previously estimated. The

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