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 […]
Finance
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 […]
Qatar Will Retain Lagardere Stock
Qatar Holding, a longtime major shareholder in Lagardere, announced over the weekend that it will not tender it shares to Vivendi, meaning it will hold on to its stock. The investment authority was given a board seat last year. They note in the press release, “Qatar Holding LLC may consider acquiring or selling Lagardère S.A. shares depending on market opportunities and/or applicable regulatory requirements.” Their decision should not affect Vivendi acquiring control of Lagardere in the tender offer, since Vivendi already controlled over 45 percent of shares before launching the offer. In other Lagardere news, catching up for the record, […]
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 […]
Lau Builds Ever-Bigger Quarto Stake
As we have reported regularly, Quarto Group’s controlling owner CK Lau continues to steadily buy up more shares in the publishing company, with a steady stream of purchases throughout April. With the latest filing, Lau’s company 1010 Printing Limited now owns over 50 percent of publisher’s stock, with nearly 20.5 million shares. (Lau owns a small block of stock in his own name as well.) Lau started adding to his stake in earnest last August, after sales rebounded and the company reported a modest profit. As of his mid-August investment, 1010 Printing owned 37 percent of the publisher’s stock and […]
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.