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Up to 12 bidders submitted first-round offers for Reed Elsevier's Reed Business Information division, which is valued at between £1bn and £1.25bn, reports the Daily Telegraph.
Sources advising some of the bidders said US publishing giant McGraw Hill submitted a joint offer with private equity firms Advent and Quadrangle by last Monday's bid deadline.
Most of the other indicative offers for the division, whose titles include Variety, New Scientist and Publishers Weekly, came from buy-out firms, according to the Telegraph.