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Reed buoyed by Thomson sale
The Canadian publisher and information group Thomson made all the headlines last week because of its bid for Reuters. What passed some investors by was the price it achieved for its educational publishing arm - a sensational $7.8bn (£3.94bn), when even the most bullish analysts had been looking for $6bn, notes the Independent.
The broker Collins Stewart sees positive implications for Reed Elsevier, which is also selling its educational publishing unit. So positive that it believes Reed shares could be worth 930p - 40 per cent above the current price. Shares in Reed firmed 3p at 666p while the rivalPearson rallied 17.5p to 908p on news that it has acquired the online learning group eCollege for $477m.
See Also
Related
- Bidders line up for Thomson
- Thomson Learning sold for $7.75bn
- Equity group joins race for Thomson Learning
- Thomson auction enters final phase
- Bertelsmann bids for Thomson Learning
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