August 29, 2017 / 12:23 PM / a month ago

Advisory Board to sell healthcare, education units in $2.58 bln deal

Aug 29 (Reuters) - Advisory Board Co said on Tuesday it would sell its healthcare business to UnitedHealth Group Inc’s Optum unit and education business to investment firm Vista Equity Partners, for a total deal value of $2.58 billion.

The business consulting company said it would sell its education business for $1.55 billion and its healthcare business for $1.3 billion, including debt.

Advisory Board said in February it would explore options, including a sale of part or the entire company, after activist fund Elliott Management said the company’s stock was “significantly undervalued”. (Reporting by Divya Grover in Bengaluru; Editing by Arun Koyyur)

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