The sale of Computer Weekly publisher Reed Business Information by parent company Reed Elsevier is looking “increasingly frail” according to sources close to the negotiations, quoted in this weekend’s Financial Times.
Bids are said to have tumbled as economic conditions worsen and credit becomes increasingly difficult to come by. The FT says the remainding bidders are offering between £650m and £700m – down from about £1.25bn.
“As every day goes by, the news gets worse and the argument for a further price reduction gets stronger,” one source told the paper.
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