Byju’s has put forward an offer of more than $1 billion to acquire United States-based company 2U, Bloomberg reported. The offer, which works out to around $15 per share, was made to 2U’s board by the edtech major last week.
The report noted that the deal is not yet set and talks “could still fall apart”, adding that a deal may not materialise if 2U’s board rejects the offer.2U’s market value is $717 million, and it has around $1 billion in debt and other liabilities. It is one among the acquisitions being considered by Byju’s, who has secured over $2.4 billion in funding for pursuing it deals. Also on the negotiating table are California-based Chegg and Lanham.