) is a provider of higher education and K-12 educational products and solutions.
By leveraging the BNED footprint among students and faculty, K-12 schools and higher education institutions, Student Brands will have substantially more opportunities to market the services students need to improve performance in the classroom and secure jobs after graduation, the company said.
Student Brands is expected to contribute over USD 10m of EBITDA to BNED's consolidated operation results over the next twelve months.
The acquisition will be accretive to BNED's EBITDA, Net Income and Cash Flow in FY2018.
Under this approval, the company's board has approved the final distribution ratio and declared a pro rata dividend of the outstanding shares of BNED common stock, which will result in the complete legal and structural separation of the two companies.
On the distribution date of 2 August, 2015, Barnes & Noble stockholders of record as of 17:00 hours on 27 July 2015, the record date for the distribution, will receive 0.632 shares of BNED common stock for each share of Barnes & Noble common stock they hold on the record date.
Such stockholders who hold Barnes & Noble common stock on the record date will receive a book-entry account statement reflecting their ownership of BNED common stock or their brokerage account will be credited with the BNED shares.
UP AFTER EARNINGS: Barnes & Noble Education (BNED
) up 7.3%...
Barnes & Noble Education (BNED
) announced an agreement with Pearson (PSO) to distribute Pearson rental titles at the company's 1,483 physical and virtual campus bookstores nationwide.
24 June 2016 - US-based campus bookstore operator Barnes and Noble Education (NYSE: BNED
) has completed the acquisition of the assets of collegiate bookstore merchandise supplier and e-commerce storefront solution Promoversity, the company said.
The companies will partner on two initiatives: the distribution of McGraw-Hill Education e-content through inclusive access models on campuses served by BNED
, and the distribution of McGraw-Hill Education's new rental titles through BNED
) has completed the acquisition of the assets of digital platform and analytics provider LoudCloud Systems, the company said.