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European Commission Clears Penguin Random House Combination - Pearson and Bertelsmann today announce that they have been notified by the European Commission that it has approved the proposed merger of Penguin and Random House, without conditions - Pearson.com
European Commission Clears Penguin Random House Combination

 

PRZOOM - /newswire/ - London, United Kingdom, 2013/04/05 - Pearson and Bertelsmann today announce that they have been notified by the European Commission that it has approved the proposed merger of Penguin and Random House, without conditions - Pearson.com. NYSE: PSO

   
 
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The two companies announced their agreement to combine Penguin and Random House in October 2012. The proposed merger is currently under review by a number of other regulatory authorities around the world. To date, approval has been granted by the US Department of Justice in the US, the Australian Competition and Consumer Commission and The New Zealand Commerce Commission. Pearson and Bertelsmann continue to expect the transaction to close in the second half of 2013, after all necessary approvals have been received

Following completion, Bertelsmann will own 53% and Pearson 47% of Penguin Random House. It will encompass all of Random House and Penguin Group’s publishing units in the U.S., Canada, the U.K., Australia, New Zealand, India and South Africa, as well as Penguin’s operations in China and Random House’s publishers in Spain and Latin America. Pearson (pearson.com) and Bertelsmann believe that the combined organisation, the world’s leading consumer publishing company, will have a stronger platform and greater resources to invest in rich content, new digital publishing models and high-growth emerging markets.

Contact: Toby Jones, Penguin
T: +44(0)79 7719 1686

 
 
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Agency / Source: Pearson Education, Inc.

 
 

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European Commission Clears Penguin Random House Combination

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Contact: Simon Mays-Smith / Tom Glover - Pearson.com 
+44(0)20 7010 2310
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Pearson Education, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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