German publishing house Gruner + Jahr (majority owned by Bertlesmann) has confirmed it is among those bidding in a second round for Reed Business Information.
The publisher of titles including New Scientist, Variety and Farmers Weekly was put up for sale in February by parent company Reed Elsevier.
According to the Daily Telegraph, 12 bidders have made offers of between £1 billion and £1.25 billion for the business in a first round of bidding. According to Reuters, second-round bids are being sought in the coming weeks with final bidding likely to happen in early October.
Most of the bids are understood to be from private equity firms. Reed has indicated that RBI could be sold as one unit – or broken up.
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