Sylvan Learning Systems, Inc. Announces Final Results of Self-Tender Offer.Business Editors BALTIMORE--(BUSINESS WIRE)--Sept. 28, 2000 Sylvan Learning Sylvan Learning (formerly Sylvan Learning Center) is a chain of franchised tutoring centers which provide personalized tutoring in reading, writing, mathematics, study skills and test-prep for college entrance and state exams. Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SLVN) today announced the final results of its self tender offer, which expired on September 13, 2000. Consistent with the preliminary results announced September 14, 2000, Sylvan sylvan emanating from or pertaining to woods. See also sylvatic. will purchase 4,552,042 shares of its common stock at 15.00 per share. The 4,552,042 shares being purchased represent approximately 10.9% of the company's 41.9 million shares outstanding on September 13, 2000. The aggregate purchase price being paid will be approximately $68.3 million. Douglas L. Becker, Chief Executive Officer, stated "Completion of this most recent self-tender allowed the Company to acquire shares at a price we believe to be attractive, while offering all shareholders the opportunity for greater liquidity. This buyback will provide our continuing shareholders with a greater share in the company's future." The Dealer Manager for the tender offer was Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. and the information agent was D.F. King & Co., Inc. About Sylvan Learning Systems Sylvan Learning Systems, Inc. (www.sylvan.net) is the leading provider of educational services to families, schools and industry. The Sylvan Learning Centers and Education Solutions provide personalized instruction services to K-12 students through direct consumer relationships and under contract to school systems. Sylvan provides courses to adult students throughout the world in the areas of English language English language, member of the West Germanic group of the Germanic subfamily of the Indo-European family of languages (see Germanic languages). Spoken by about 470 million people throughout the world, English is the official language of about 45 nations. , teacher training and accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. university offerings through the Wall Street Institute / ASPECT, Canter and Sylvan International Universities subsidiaries. Sylvan Ventures, Sylvan's new e-learning investment vehicle, focuses on bringing emerging Internet technology solutions to the education and training marketplace. Through its affiliate, Caliber Learning Network, Inc. (NASDAQ: CLBR CLBR Costa Linda Beach Resort (Aruba) - news), Sylvan also has the ability to distribute world-class adult professional education and training programs. |
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