Several major international media companies are finalising bids for specialist publishing group Harcourt.
Harcourt is being sold in an auction supervised by Goldman Sachs which began in June, and is expected to fetch $6 billion, incorporating $1.2bn of debt.
Potential suitors include Anglo-Dutch group Reed Elsevier, German media colossus Bertelsmann and Canada’s Thomson Corporation.
Analysts and investors doubt that any of the bidders will buy all four of Harcourt’s divisions, and bids may be made in partnership.
News source: Financial Times