Arco Platform Rises 14% On Sweetened Buyout Proposal

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Shares of Arco Platform Limited (ARCE), a technology company in the education sector, are rising more than 14% Monday morning after the company said it received a revised buyout proposal from General Atlantic L.P. and Dragoneer Investment Group, LLC for $13 per share, to be paid in cash.

In November last year, the company had received an acquisition proposal for $11 per share from the same parties.

ARCE, currently at $12.52, has been trading in the range of $7.85-$19.96 in the last 52 weeks.

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