October 18, 2021

Volume XI, Number 291

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October 18, 2021

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CFIUS Clearance: Learning Technologies Group and GP Strategies Corporation

Status:  Clearance

Acquirer:  Learning Technologies Group (United Kingdom)

Acquired:  GP Strategies Corporation (U.S.)

Value:  $394 million

Industry Tags:  Professional Services; Engineering & Construction

On July 15, 2021, GP Strategies Corporation a U.S. publicly traded (NYSE: GPX) global workforce solutions provider, “announced it has entered into a definitive agreement to be acquired by Learning Technologies Group (AIM: LTG.L), a provider of services and technologies for digital learning and talent management, for $20.85 per GP Strategies share in cash, in a transaction valued at approximately $394 million.”  (Press Release, GP Strategies Corporation, Form 8-K, Ex-99.3, July 15, 2021, SEC Filing.)  CFIUS Clearance is a condition of the merger.  (See Section 7.1(c), Agreement and Plan of Merger, GP Strategies Corporation, Form 8-K, Ex-2.1, July 15, 2021, SEC Filing.)  “The parties submitted the joint voluntary notice on July 26, 2021.”  (GP Strategies Corporation, Schedule 14A, Aug. 24, 2021, SEC Filing.) “On October 7, 2021, the [GP Strategies Corporation] and LTG received CFIUS Approval.”  (GP Strategies Corporation Form 8-K, Oct. 8, 2021, SEC Filing.)

© Copyright 2021 Squire Patton Boggs (US) LLPNational Law Review, Volume XI, Number 286
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About this Author

Peter C. Alfano III International Trade Attorney Squire Patton Boggs Washington, DC
Senior Associate

Peter Alfano has extensive experience counseling clients on antitrust and national security matters. In the area of national security representations, Peter is a leading practitioner in our International Trade Practice Group focusing on national security investment reviews. In this practice area, Peter is active in representing transacting parties, both US businesses and non-US investors, before the Committee on Foreign Investment in the United States (CFIUS), including negotiating assurance and national security mitigation agreements with CFIUS member agencies. As part...

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