Barry O'Callaghan looking at Reed education arm - report |
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Published
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Fri, 16 Feb 2007 07:57
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LONDON (AFX) - Barry O'Callaghan, the Irish entrepreneur, is considering an audacious 2 bln stg bid for Reed Elsevier PLC's educational publishing business, months after his educational software group completed a 5 bln usd reverse takeover of Houghton Mifflin, the US school textbook publisher, the Financial Times reported.Reed said yesterday it would sell Harcourt Education.The FT said a spokesman for O'Callaghan would not comment. But the paper said three people familiar with the matter had told it he was have ry interested' in the potential cost savings and other benefits of combining Harcourt with HM Riverdeep, the vehicle with which he bought the larger Houghton Mifflin.The newspaper said O'Callaghan is believed to have contacted Reed's advisers at UBS.It added Harcourt is expected to attract interest from other bidders, particularly private equity-backed groups.newsdesk@afxnews.comjdd/wjCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Reed to sell struggling education ops, FY adj pretax up 5 pct UPDATE 