NEW YORK, Nov. 14 /PRNewswire-FirstCall/ -- Edison Schools (Nasdaq: EDSN),
the nation's leading public school partner, announced that it has completed
its merger to take the company private with a company formed by H. Christopher
Whittle, Edison's Founder and Chief Executive Officer, and an affiliate of
Liberty Partners, a New York based private equity fund. Edison will be
privately held and Edison's shares will no longer be listed on Nasdaq.
Edison's stockholders are entitled to receive $1.76 for each share of Edison
common stock they owned as of the closing merger.
About Edison Schools
Founded in 1992, Edison partners with school districts, charter boards,
and community groups to raise student achievement through its research-based
school design, aligned assessment systems, interactive professional
development, integrated use of technology and other proven program features.
Edison students are achieving annual academic gains well above national norms.
Edison Schools now serves more than 132,000 public school students in over
20 states through four different business channels: (1) the management of
schools for school districts, (2) charter schools, (3) summer and after-school
programs, and (4) achievement management solutions for school systems. The
Company operates 130 full-year schools and 200 summer schools.
Between 1992 and 1995 and in ongoing efforts, Edison's team of educators
and scholars conducted research to develop its school design and support
systems. Edison opened its first four schools in August 1995 and has grown in
every subsequent year. For more information, please visit
http://www.edisonschools.com.
Any statements in this press release and any other press release issued by
Edison on or about the date hereof about future expectations, plans and
prospects for Edison, including statements containing the words "believes,"
"anticipates," "plans," "expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from
those indicated by such forward-looking statements as a result of various
important factors, including the risk factors discussed in our most recent
quarterly report filed with the SEC. The forward-looking statements included
in this press release represent Edison's estimates as of November 14, 2003.
Edison anticipates that subsequent events and developments will cause its
estimates to change. While Edison may elect to update these forward-looking
statements at some point in the future, Edison specifically disclaims any
obligation to do so. These forward-looking statements should not be relied
upon as representing Edison's estimates or views as of any date subsequent to
November 14, 2003.
SOURCE Edison Schools
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Related links:
http://www.edisonschools.com
CONTACT:
Adam Tucker, VP, Communications of Edison
Schools, +1-212-419-1602
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