Anglo-Dutch information group Reed Elsevier has released details of a merger deal with Dutch publishers Wolters Kluwer. The new group is valued at £17.5bn and will be the world’s largest scientific publishing and information group with sales in 1996 of more than £5bn. News of the merger caused shares in all three companies (Reed International, Elsevier and Wolters Kluwer) to rise markedly; the share price in Reed International jumped 97p to close at 629p.
There is speculation that following the merger Reed Elsevier will auction off its IPC Magazines division (subscribers see Reed Planning To Sell IPC), the sum of which is expected to be worth around £800m. Reed Elsevier refused to comment on this one way or the other. IPC Magazines includes the titles Marie Claire , Country Life and TV Times . Should this sell-off take place it would represent Reed’s desire to concentrate on its professional scientific interests.
Reed Elsevier: 0171 222 8420
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