Argosy Education Group Announces Completion of Merger.Business Editors CHICAGO--(BUSINESS WIRE)--Dec. 21, 2001 Argosy Education Group, Inc. (Nasdaq:ARGY) today announced the completion of its merger with Education Management Corporation (Nasdaq:EDMC EDMC Education Management Corporation EDMC Engineering Department Master Chief ). The merger was approved by Argosy's shareholders at a special meeting held on October 31, 2001, subject to the satisfaction of certain conditions. The conditions included approval by the Department of Education, which was recently received. Under the terms of the agreement, Argosy's shareholders will receive $12 per share. Argosy's shareholders will receive instructions within the next seven to ten days on how to exchange their shares for the cash consideration. Argosy Education Group, Inc. owns and operates Argosy University Argosy University is a private for-profit university, with 18 locations in 12 U.S. states and online. The university offers numerous programs at various levels, including certification; associates, bachelors, masters, specialist, and doctoral degrees, postdoctoral , with 12 primary campuses and six extension sites in 10 states; Western State University College of Law For the Colorado college, see . Western State University, College of Law (WSU) is a for-profit, American law school in Fullerton, California. It is the oldest law school in Orange County and boasts almost 10,000 alumni. in Fullerton, California Fullerton is a city located in northern Orange County, California, United States. As of the 2000 census, the city had a total population of 126,003. It was founded in 1887 by George and Edward Amerige and named for George H. , and Argosy Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. . Programs offered by Argosy's schools include doctoral and master's degrees in psychology, education, business and law; bachelor's degrees in business and psychology; and associate degrees in various health science fields. For more information, visit the company's Web site at www.argosyeducation.com. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. contained in this release are based on various assumptions, and certain risks and uncertainties could cause actual results to differ materially from those stated. Factors that could cause such differences include those matters disclosed in the company's filings with the Securities and Exchange Commission. Argosy Education Group assumes no obligation to update its forward-looking statements. |
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