Thomson Geer has advised vocational education provider iCollege Ltd on its proposed merger with Redhill Education Ltd to create a leading Australian training company.
The proposed merger of the ASX-listed education providers is supported by the boards of both companies and involves the offer of 9.5 iCollege shares for each Redhill Education share.
The new merged company will have a national footprint, offer courses across a range of subjects including management, technology, design, business, hospitality, health, community services and building and construction, and a wider international network of agents to attract students when borders open.
Thomson Geer is acting for iCollege in the transaction and advising on the legal and regulatory aspects of the deal. Thomson Geer was also instrumental in providing strategic advice to the board of iCollege.
Corporate and M&A partner Matthew Reynolds said: “Bringing together iCollege and Redhill Education will create a larger, stronger company that will support the education goals of thousands of students and enable it to pursue growth opportunities.”
The Redhill Education board has unanimously recommended its shareholders accept the iCollege offer, subject to no superior bid being offered.