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Byju's offers to buy US-listed edtech firm 2U for over $1 billion

Byju's made the offer of about $15 a share to 2U's board last week, said the person, who asked not to be named as the bid isn't yet public

Byju's
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Byju’s is India’s most valuable start-up, with a valuation of $22 billion, according to the market researcher CB Insights. Photo: Shutterstock

Saritha Rai | Bloomberg
Online-education provider Byju’s has offered to buy 2U in a cash deal that values the US-listed edtech company at over $1 billion, a person familiar with the matter said.
 
Byju’s made the offer of about $15 a share to 2U’s board last week, said the person, who asked not to be named as the bid isn’t yet public. The offer represents a 61 per cent premium to 2U’s closing price of $9.30 on the Nasdaq on Tuesday and gives the Lanham, Maryland-based company an enterprise value of about $2 billion.
 
Byju’s, one of the world’s mo­st valuable start-ups

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First Published: Jun 29 2022 | 11:21 PM IST

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