Bain Capital and Blackstone are two of the private equity firms lining up to bid on Reed Elsevier’s US-based Reed Business Information division, which includes entertainment paper Variety, New Scientist, and Broadcasting & Cable, Reuters reports. Bids, expected to be in the $2 – $2.5 billion range,are due August 11, with mostly US-based private equity firms vying for the publishing group, which includes 80 magazines and 2,500 employees.
London’s Telegraph reported Sunday that BusinessWeek publisher McGraw Hill and Texas Pacific Group are among “two dozen” bidders showing interest. Reed Elsevier is offering to lend $320 million to the successful bidder to finance the deal.
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