Friday, July 14, 2017

Bertelsmann Ups PRH Stake to 75% - Publishers Weekly

I'm feeling better today.
Today, Panzer made a short trip into the Catosphere. Our recovering kitty boy made a quick stop at the Publishers Weekly site. With a little digging he found a post about Bertelsmann increasing their holdings in PRH (Penguin Random House).

According to the post by Jim Milliot, Bertelsmann intends to increase the company's controlling stake in PRH (Penguin Random House) to 75 percent. When Penguin merged with Random House in 2013 Bertelsmann acquired 53 percent and Pearson 47 percent of the new entity PRH (Penguin Random House). Bertelsmann will acquire an additional 22 percent from Pearson for $968 million. Pearson will retain 25 percent. The deal won't be completed until September, 2017.

Panzer says, "The post does mention Pearson can't sell any portion of their remaining ownership for 18 months. This little kitty would be very surprised if there wasn't also a little clause in the agreement that Bertelsmann has the right of first refusal if Pearson wants to sell."

Note: This is a shortish-medium post. Bring a cup of tea and a muffin for today's reading selection.

To read the post, tootle over to Bertelsmann

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