Pearson fails in effort to raise cash

<p>Pearson has been rebuffed after sounding out investors last week about raising &pound;270m in cash for acquisitions, reports the FT.</p><p> The company asked some of its largest shareholders whether they would support a placing of new shares equivalent to 5% of the group, telling them it wanted to use the money for unnamed acquisition opportunities.<br /><br />However, leading investors said they were reluctant to back any placing without more detail about specific plans, and Pearson did not proceed.<br /></p>