Apollo drops takeover offer for education group Pearson

(Reuters) Education group Pearson (PSON.L) said on Wednesday it had rejected a third takeover offer from Apollo, valuing it at 6.7 billion pounds ($8.8 billion), prompting the U.S. investment company to walk away and sending its shares down 12%. Pearson revealed earlier this month that it had rejected two takeover approaches from Apollo, sending its shares up 22% on the day.

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