Arco Platform Rallies On Buyout Proposal

Shares of Arco Platform Limited (ARCE) are rising more than 21% Thursday morning after the company said it received a buy-out proposal from General Atlantic L.P. and Dragoneer Investment Group, LLC.

The purchase price proposed by the companies is $11 per share, a 22% premium over the closing price of 9.04, as on November 30.

Arco Platform, a technology company in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil.

ARCE, currently at $11.01, has traded in the range of $7.85-$23.18 in the last 52 weeks.

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