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OCT 25, 2013 - TheStreet

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Why Small-Cap Career Education (CECO) Doubled

NEW YORK (TheStreet) -- Career Education Corporation  surged 57% Friday to $5.947 after the college-level education services provider announced the sale of its European properties to private equity firm Apax Partners. At the time of the announcement, the deal was worth $305 million, surpassing the company's $255 million market capitalization. Illinois-based Career Education stands to pocket $276.5 million from the transaction, expected to close by year-end, and plans to reinvest the bulk of those profits into its U.S. operations. The for-profit education provider has been victim ... Read More

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