Edtech unicorn Byju's offers to buy 2U for over $1-B: report

Edtech unicorn Byju's has offered to buy Maryland, US headquartered edtech firm 2U in a cash deal that values the US-listed edtech company at over USD 1 billion. Byju's made the offer of about USD 15 a share to 2U's board last week. The offer represents a 61% premium to 2U's closing price of USD 9.30 on the Nasdaq on Tuesday and gives the company an enterprise value of about USD 2 Billion. 2U has a current market value of USD 717 million and about USD 1Biillion in debt and other liabilities. Byju's has secured financing of more than USD 2.4 Billion to pursue the acquisition.