After resisting a full buyout of Pearson’s minority share in Penguin Random House in 2017, Bertelsmann is exercising their option to buy Pearson’s remaining 25 percent stake in the book publishing joint venture at the soonest opportunity. They will pay $675 million, subject to another round of regulatory approvals, with the deal expected to close in the second quarter of 2020. An analyst at Barclays commented, “The price is in the ballpark of what we expected — a little better.” The latest purchase is based on an enterprise value for PRH of $3.67 billion, up from the $3.55 billion valuation […]