Deal for Simon & Schuster said to be near

Deal for Simon & Schuster said to be near

Aug 04 2023

Three major news outlets are reporting that the sale of Simon & Schuster will likely be announced as soon as next week. A Reuters report said that the final three bidders are HarperCollins, the private equity firm KKR, and Richard Hurowitz of the investment firm Octavian & Company, who has the backing of the Abu Dhabi-based sovereign wealth manager Mubadala Investment Co.

The New York Times has the final bidders as HC and KKR, while the Wall Street Journal said KKR was in advanced talks to buy the publishers. (One rumor that was making the rounds was that Barnes & Noble owner Elliott Advisors was making a bid. If that was true, they did not make the final cut based on the new reports). The second round of bids was due by the end of July.

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