Tree House in deep trouble as Zee Learn calls off merger plan

Industry:    2016-12-18

Crippled pre-school chain Tree House on Friday landed in further trouble with Essel Group’s education arm Zee Learn not only calling off its proposed merger, citing the bad press but also threatening to take legal recourse to seek damages from the failed deal.

“Our board announced today that in the light of the recent inordinate developments at Tree House, it is withdrawing from the proposed merger process, which has been awaiting various court, shareholder, and related statutory approvals,” Zee Learn said in a statement.

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