Vivendi and Lagardere confirmed in separate releases that approximately 11 million shares in Lagardere were tendered during the first round of Vivendi’s buyout offer, giving it 55.43 percent of the share capital in Lagardere. A second round of the main tender offer opens May 27 and closes on June 9, still at the offer price of 25 euros a share. Thereafter, during a subsidiary period until the end of 2023, shareholders can tender their stock for the lower price of 24.10 euros a share. (They will still receive dividends during that time until shares are tendered; the higher, early offer […]
M&A
Acquisitions: University of Georgia Press Buys NewSouth Books
The University of Georgia Press announced its acquisition of NewSouth Books, founded in 2000 and based in Montgomery, Alabama, with a catalog of over 400 titles. Publisher Suzanne La Rosa will join UGA Press on July 1 and continue to publish 8-12 new titles annually under the NewSouth imprint. Editor-in-chief Randall Williams will continue to edit selected titles and recommend works for acquisition. UGA Press director Lisa Bayer said in the announcement: “NewSouth Books has always punched above its weight in representing the culturally complex and socially significant Deep South to the world. We are thrilled to honor Randall and […]
CCC Acquires Ringgold
The Copyright Clearance Center has acquired Ringgold, which provides persistent identifiers (PIDs)–metadata that is unique to a person, organization, article, etc, particularly used in scholarly communications. The terms of the deal were not announced. “Globally unique PIDs are essential for creating connections between articles, researchers, institutions, and funders,” CCC president and ceo Tracey Armstrong said. “We look forward to collaborating with Ringgold and industry stakeholders to further invest in identifiers to power interoperability, and data-driven applications. In particular, we will collaborate with partners to infuse PIDs earlier in the research lifecycle, addressing market demand for consistent use of PIDs in […]
M&A: Sterling Acquires Knock Knock
Sterling Publishing has acquired gift company Knock Knock, which includes the brand Em & Friends. Knock Knock will be overseen by Union Square & Co. publisher and cco Emily Meehan, “with the operations and distribution of Knock Knock titles remaining business as usual,” according to a release. Knock Knock founder and ceo Jen Bilik and Em & Friends founder Emily McDowell report to Meehan as creative consultants. VP sales & operations Jim Papscoe and vp, associate publisher Craig Hetzer will “both focus on the day-to-day operations of the overall business” and will also report to Meehan.
Sourcebooks Acquires Duopress
Sourcebooks has acquired Duopress, a “a minority-owned independent publisher of innovative, high-quality, and affordable books and gifts.” The Duopress list includes “board books, regional board books, counting books, and doodle books,” as well as nonfiction middle-grade titles and more. Duopress founder Mauricio Velázquez de León said, “I’ve always admired the energy and publishing IQ of Dominique Raccah and her extraordinary team at Sourcebooks, and we are incredibly excited to start this new chapter for duopress.”
Apollo Has Been Trying to Acquire Pearson
Private equity company Apollo Global Management has tried twice to purchase educational publisher Pearson since last November. Pearson declined an 800 pence per share in November and another offer of 854.2 pence per share on March 7, finding that Apollo “significantly undervalued the Company and its future prospects.” On Friday, following online rumors, Apollo said formally that it “notes the recent market speculation in relation to Pearson and confirms it is in the preliminary stages of evaluating a possible cash offer by certain of Apollo’s affiliated funds” to buy Pearson. Under London Stock Exchange rules, Apollo has until April 8 […]