August 29, 2017 / 12:17 PM / a year ago

BRIEF-Advisory Board Co announces agreements for the sale of its health care and education businesses

Aug 29 (Reuters) - Advisory Board Co

* The Advisory Board Company announces agreements for the sale of its health care and education businesses

* Says ‍stockholders of company would receive estimated cash per share of $54.29​

* Advisory Board Co - ‍Total merger transaction value, including after-tax proceeds for sale of education business, is approximately $2.58 billion​

* Advisory Board Co - ‍Board of co unanimously approved merger agreement and has recommended that company’s stockholders adopt merger agreement​

* Advisory Board Co - Deal ‍is not subject to a financing condition​

* Advisory Board Co - ‍Elliott Management has agreed to vote its shares in support of merger at upcoming stockholder meeting​

* Advisory Board - Prior to closing merger of health care business, affiliates of Vista to buy co’s education business, including royall & co, for $1.55 billion

* Advisory Board - Deal includes fixed amount of $52.65 per share, after-tax value at closing of 7.6% stake in Evolent health, estimated as of Aug. 28, 2017​

* Advisory Board - ‍Following closing of education transaction, co’s health care business will merge with Optum for $1.3 billion, including assumption of debt​

* Advisory Board Co - ‍Sale of education business is not subject to a financing condition and does not require approval of company’s stockholders​

* Advisory Board - To sell its health care business to Optum and to sell its education business to affiliates of Vista equity partners​ Source text for Eikon: Further company coverage:

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