Indian virtual education conglomerate Byju’s submitted a buyout offer worth $1 billion in a cash deal, or about $15 per share, to 2U (NASDAQ: TWOU), according to Bloomberg. As a result, shares of 2U Inc. went up 17.42% to $10.92. This is not the first time rumors surfaced regarding a 2U buyout. The offer, made to 2U’s board last week, represents a 61% premium to 2U’s closing price of $9.30 on the Nasdaq on Tuesday, June 21. It gives the Lanham, Maryland-based and edX owner company an enterprise value of about $2 billion, despite having a current market cap of $841 million, and about $1 billion in debt and other liabilities.
