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Zee Learn Puts Merger On Hold With Tree House Education
Shares of the Zee learn rose after the company decided to put merger with Tree House Education on hold.
Zee Learn Ltd will not be going ahead with the currently agreed share exchange ratio of 53 fully paid equity shares of Rs 1 each of Zee Learn Limited for 10 fully paid equity shares of Rs 10 each of Tree House," the company said in a statement.
They will re-constitute the merger evaluation committee to look into and suggest ways to salvage the deal with Tree House, the company added.
Tree House's net profit slipped 89 per cent to Rs 6.78 crore from Rs 60.88 crore in year-ago period.
Shares of the Tree House was seen trading at Rs 59, lower by 3.75 per cent on BSE. It touched 52- week low during the trade.
Shares of Zee learn was seen trading higher by 2.08 per cent at Rs 29.50 on BSE at 12.46 pm IST. It touched an intra-day high at Rs 31 during the trade.
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