VSS Completes Cambium-Voyager Deal

Veronis Suhler Stevenson has completed its sponsored merger of Cambium Learning and Voyager Learning. The transaction was structured with Cambium Learning Group acquiring both companies, Voyager for $194 million in stock and cash and Cambium for $158 million plus the assumption of $168 million of debt. VSS is the majority owner of the merged education materials company, which is listed on the NASDAQ under the symbol ABCD.