Second-round bids for a portion of Springer Science and Business Media are said to have fallen “signficantly short” of the target of 500 million euros for a stake of up to 49 percent. Owners Cinven and Candover are reported to have asked the bidders to try again, please. Reuters says “two of the sources said a valuation of 350 million to 380 million euros for a 49 percent stake was a reasonable estimate…. Proceeds would be used to tackle high looming debt payments Springer is unable to meet.”Reuters Meanwhile, after failing to sell RBI whole last year, Reed Elsevier is […]
