Capita Receives Lower-Than-Expected Bids for School Tech Unit
- British outsourcing group evaluates whether to keep business
- Bain, TPG decided against bidding by this week’s deadline
Capita Plc, the British outsourcing group, received lower-than-expected final offers for its school technology business, people with knowledge of the matter said.
The London-listed company is now evaluating whether to accept a lower bid or keep the Education Software Solutions division, according to the people, who asked not to be identified because the information is private. The sale had initially been expected to fetch about 500 million pounds ($646 million) to 700 million pounds, more than the company’s market value, the people said.