Regulators Approve Harcourt Sale; Would You Like to Buy Some Debt? The Justice Department has signed off on the sale of Harcourt’s US education business to Houghton Mifflin Riverdeep without requiring the spinoff of any assets, as some had expected. (They are still evaluating the proposed sale of Harcourt’s Assessment business to Pearson.) With approval, now all HM Riverdeep needs is cash. The latest word is that the consortium of banks (Lehman Brothers, Credit Suisse and Citigroup) that agreed to finance the deal along with a refinancing of other parts of the company, for a total of $7.15 billion, is […]
