On the heels of announcing its bid to combine with Reuters Group, Thomson Corp. said that its education unit’s assets will sell for $7.75 billion in cash.

Funds advised by two equity groups -- London-based Apax Partners and Canada's OMERS Capital Partners -- have reached a deal to buy the electronic publisher’s Thomson Learning arm, the companies announced late last week. The unit had been expected to go for between $5 billion and $6 billion.

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