Coursera Completes Combination With Udemy
Coursera (COUR) said Monday it has completed its combination with Udemy (UDMY).Under the terms of the transaction, each outstanding Udemy common share was exchanged for 0.8 shares of Coursera common stock, according to a statement.The combination is expected to generate run-rate annual cost synergies of $115 million within 24 months of closing, Coursera said.Coursera will continue to trade on the New York Stock Exchange under the symbol "COUR," while Udemy's common stock will be delisted from the Nasdaq, the statement said.Coursera Chief Executive Officer Greg Hart, Chief Financial Officer Mike Foley, and Chairman Andrew Ng will continue in their respective roles. The board will consist of nine members, with three coming from Udemy's board, the statement said.Price: $5.74, Change: $-0.04, Percent Change: -0.78%