“Three people familiar with the process” have confirmed to the NYT that parents of the two largest trade publishers in the US — Penguin Random House and HarperCollins — are the two leading bidders for Simon & Schuster at this point. Which is exactly as was expected, since the company will yield greater financial efficiencies if it is acquired by another, larger trade publisher. “At least one of the offers has topped $1.7 billion,” two of the people said to the paper, with final bids due prior to Thanksgiving. If true, that would be a substantial premium over prices for […]
