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 It looks as if the auction for Reed Business Information just won't go according to plan as interest from private equity firms remains scant for the business publishing arm of Reed Elsevier. Now paidContent is reporting that the parent company has changed its mind on how to sell the unit.
PaidContent's Rafat Ali wrote:
Initially [Reed Elsevier] did not want to sell off various pieces separately, but now at least the U.S. part, RBI-US, will be sold off separately, and multiple parties are aligning their arrows for when the process starts.
Books on the auction have not gone out yet, but Reed Business is still expected to draw a number of buyout shops despite Apax Partners taking itself out of the bidding pool last month. Additionally, strategic bidders United Business Media plc and Informa are reportedly not interested either, according to a March story in the British paper The Independent. The Deal's Auction Block database lists Candover Ltd., Providence Equity Partners Inc. and Cinven Ltd. among the other potential bidders for the unit. - George White Categories Deal Video
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