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Reed Elsevier: takeover target
The FT reports that Reed Elsevier shares are ta five-year high based on the view that the publishing group could be a leveraged buy-out target once the sale of its education division is completed.
Its shares have risen to 677p after ABN Amro set a 795p target price and said the company would be viewed as a "perfect" LBO candidate once the disposal process was concluded. ABN said this was because Reed's three remaining business were very high quality, balance sheet gearing would be low and there was scope for a private equity group to cut costs.
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