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It looks like UBS may have its work cut out for itself when it comes to the auction of the Reed Business Information unit, the publisher of Variety and New Scientist. Although Reed Elsevier plc only put the unit on the block Thursday, when it announced the purchase of ChoicePoint, the business may already have a bidder in the form of London's Apax Partners, according to The Times of London.
Apax is a natural bidder considering it already owns Incisive Media plc, a business-to-business publisher it has built steadily through acquisitions. Last year, Apax purchased American Lawyer Media and European media company Emap plc's business-to-business unit, and folded both of them into Incisive. However, other bidders are also likely to take an interest in the Reed unit including buyout firms Providence Equity Partners, Cinven Ltd. and Candover, notes the Times. - Matthew Wurtzel See story from The Times of London Categories Deal Video
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