The longer the auction for the Reed Business Information goes on, the more the reported price drops, as the economy continues to slide. The latest rumor in the British media has the offering prices heading below 1 billion pounds, against an initial valuation of at least 1.25 billion pounds. The three bidders left are Bain Capital, TPG and Strauss Zelnick. One person involved in the deal tells the FT, “Reed Elsevier won’t sell at any price but buyers can’t ignore what they are hearing and seeing in the marketplace.” Plus, “Just how much below £1bn remains to be seen.” But […]
