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Large Day Care Center Merger Canceled

FARMINGTON HILLS, MI-Childtime and Tutor Time couldn't reach a deal together that would have made a conglomerate of more than 500 centers, officials say.

By Robert Carr | Updated on March 30, 2002

FARMINGTON HILLS,MI-A merger deal has died between Childtime Learning Centers Inc., which owns and operates 287 day-care style learning centers in 23 states and the District of Columbia, and Tutor Time Learning Centers Inc. of Boca Raton, FL. The deal was announced Feb. 1, and company officials were positive about the move.

Childtime was set to buy Tutor Time. However, Childtime officials recently said that the deal was just never possible to complete and announced termination of negotiations on an acquisition of Tutor Time.

Tim Davis, director of real estate for the company, tells GlobeSt.com consummation of the proposed transaction was subject to a number of conditions, including satisfactory completion of the parties respective due diligence reviews, execution of a definitive agreement and obtaining shareholders’ approvals.

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