3P Learning (ASX:3PL) shares soar 12% on merger proposal

Shares in 3P Learning Ltd (ASX:3PL) have soared as the online educator announced a potential merger with e-learning company, Blake.

At close of trade today, the 3P Learning share price was up 12.3% at a price of $1.37.

3P Learning is a global online educator with cloudbased, software as a service products. The tech company offers courses in numeracy, literacy and science for students ranging from kindergarten to year 12.

Blake merger proposal

The 3P Learning share price surged higher today after the company entered into a non binding term sheet to pursue the merger. Under the agreement, 3P Learning will acquire 100% of the equity in Blake in exchange for 137 million shares. The deal is subject to satisfactory due diligence by both…