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Pearson rises on takeover talk

26.03.07

Pearson - owner of the Financial Times, an education business and Penguin books - jumped 34p to a near five-year high of 865p on Friday, after renewed talk of a break-up or a private equity bid, reports the Guardian. "The company refused to speculate on its strategy, but many analysts believe a sale of the FT or its stake in US data provider IDC would make sense."

"The shares were also helped by news that Dutch rival Wolters Kluwer was in talks with private equity firm Bridgepoint Capital to sell its education arm for a higher than expected $1bn (£600m). This has a couple of implications. It focused attention on the possible value of Pearson's education business, while also alleviating concerns Pearson might have been tempted to pay top dollar to win an auction for the Kluwer assets."

Guardian

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