Monday, April 16, 2007

Dissident Laureate Education (LAUR) Holder Select Equity Group Raises Stake to 9.82%

In an amended 13D filing Friday on Laureate Education, Inc. (Nasdaq: LAUR), Select Equity Group disclosed a 9.82% stake (5.05 million shares) in the company. This is up from the 7.14% stake (3.7 million shares) the firm disclosed in the original February 13D filing.

In the original 13D filing, the firm disclosed a letter sent to the Board of Directors expressing their reservations about the management-led buyout transaction at $60.50 per share. The firm said the stock is worth "substantially more".

Another large Laureate Education, T. Rowe Price, has also come out against the deal.

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