 |
FTI Consulting handles Anthology, the ed-tech firm (owner of Blackboard, Ally, and Illuminate), which has declared Chapter 11 under the weight of $1.7B in debt.
The restructuring plan calls for the sell-off of three of its businesses, and investments by Oaktree Capital Management and Nexus Capital Management into a reorganized teaching and learning unit.
“With the strong support of our investors, a recapitalized teaching & learning platform is well positioned to invest in new capabilities, drive greater efficiency, and help our customers stay focused on what matters most: delivering exceptional outcomes for students,” said Bruce Dahlgren, CEO of Anthology.
The teaching & learning standalone business will be debt-free and infused with at least $50M to support its growth.
Anthology expects to complete its financial restructuring over the next six months.
FTI Consulting’s Rachel Chesley and Diana Sangiorgio advise Anthology on financial and communications matters.
FGS Global handles Fox Corp. as it agrees to acquire The Roku Channel, which relies on Joele Frank, in a deal valued at $22B.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
