SoftKey's Kidsco subsidiary will offer to pay $67.50 per share in cash for 8.28 million shares of The Learning Company stock. The shares represent all outstanding company shares including vested stock options as of December 6, 1995.
The deal represents an about-face on the merger agreement The Learning Company made with Broderbund last July and amended early last month. The Broderbund deal called for The Learning Company stockholders to receive 0.92 of a share of Broderbund common stock for each share of The Learning Company's stock. The Learning Company officials said the deal with SoftKey is in the best interest of shareholders.