Permira Makes the Grade, According to Most Shareholders

The shareholders of Renaissance Learning (NASDAQ: RLRN) have voted to approve the proposed $455 million acquisition of the company by Permira. The deal is expected to close on Wednesday. Renaissance's co-founders and their affiliates will receive $15 per share, while other shareholders will receive $16.60 per share. Renaissance provides technology-based school improvement and student assessment programs for K-12 schools. The company had also received a proposal to be acquired by Plato Learning.