Private equity firm BGH, AustralianSuper and former Navitas chief executive Rod Jones have agreed to buy the global education provider for $2.3 billion.
Navitas shareholders will receive $5.825 per share if they approve the offer at a scheme meeting, expected to be held in June.
The board of directors is unanimously recommending shareholders vote in favour of the scheme.
The offer is a 33.9 per cent premium to where the shares were trading in October when the consortium made its initial approach.
Navitas shares were in a trading halt on Thursday, last trading for $5.62.
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Earlier in the day, the company got a $5 million full-year profit boost after a UK court ruled its local subsidiary was exempt from the British equivalent of the GST.
The UK Supreme Court on Wednesday upheld a finding exempting SAE Education from paying the local valued added tax (VAT).
The education services provider said the decision is final, clearing a path for it to reclaim VAT and legal costs that will amount to a one-off full-year profit contribution of about $5 million.
