[net-gold] BUSINESS: ACQUISITIONS MERGERS : LAW : GOVERNMENT : PUBLISHERS PUBLISHING AND PUBLICATIONS: Bloomberg Makes Agreed $990m bid for BNA

  • From: "David P. Dillard" <jwne@xxxxxxxxxx>
  • To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, Educator Gold <Educator-Gold@xxxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, Net-Gold <net-gold@xxxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, Digital Divide Diversity MLS <mls-digitaldivide@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports Tourism <healthrecsport@xxxxxxxxxxxxxxxx>, Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
  • Date: Fri, 26 Aug 2011 05:43:20 -0400 (EDT)


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BUSINESS: ACQUISITIONS MERGERS :

LAW :

GOVERNMENT :

PUBLISHERS PUBLISHING AND PUBLICATIONS:

Bloomberg Makes Agreed $990m bid for BNA

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Bloomberg Makes Agreed $990m bid for BNA

By Andrew Edgecliffe-Johnson in London

August 25, 2011 8:05 pm

Financial Times

Companies

Media

http://www.ft.com/intl/cms/s/0/ce3a998a- cf3f-11e0-b6d4-00144feabdc0.html#axzz1W7Ks7CJq

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A shorter URL for the above link:

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http://tinyurl.com/3p6uelw

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Bloomberg is planning the largest deal in the private companys 30-year history, with a $990m agreed bid for BNA, an employee-owned legal, tax and regulatory information company founded in 1929 as the Bureau of National Affairs.

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The financial data group is paying a steep three times BNAs $331m revenue for 2010, after a sale process that drew interest from other potential bidders, including Thomson Reuters and Reed Elsevier.

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The acquisition would add significant heft to Bloombergs efforts to crack the legal and regulatory information markets with Bloomberg Law, where it needs more content to compete with Thomson Reuters Westlaw and Reed Elseviers Lexis Nexis.

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BNA, which has a seat in the White House press briefing room, would also boost Bloomberg Government, a data-heavy service for Washington lobbyists and lawmakers. The acquisition of the largest independent publisher in the industry depends on regulatory clearance from the Department of Justice and the Federal Trade Commission.

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Bloomberg Agrees to Buy Bureau of National Affairs for About $990 Million
By Amy Thomson Aug 25, 2011 1:20 PM ET Bloomberg
http://www.bloomberg.com/news/2011-08-25/bloomberg-agrees-to-buy-
bureau-of-national-affairs-for-about-990-million.html

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A shorter URL for the above link:

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http://tinyurl.com/3zewcb9

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Bloomberg LP, the closely held news and financial information provider, agreed to buy The Bureau of National Affairs Inc. for about $990 million to add legal, tax and regulatory research and analysis.

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BNA shareholders, who are current and former employees, will get $39.50 a share in cash in a transaction that is projected to be completed this year, New York-based Bloomberg said in a statement today.

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The deal is part of Bloombergs expansion into new businesses to add products to the companys terminal, a data hub used by traders and executives, and add to new titles for its news group. In 2009, Bloomberg acquired Businessweek magazine and New Energy Finance, which provides analysis on clean energy sources.

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BNA, which publishes the Daily Labor Report and U.S. Law Week, will significantly grow Bloombergs presence in Washington and its research will contribute to coverage and analysis of employment, health care, labor, accounting, intellectual property and telecommunications, Bloomberg said.

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The tender offer will begin by Sept. 8 and is subject to regulatory approval. BNA will be operated as a stand-alone subsidiary, Bloomberg said in the statement.

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The complete articles may be read at the URLs provided for each.

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  • » [net-gold] BUSINESS: ACQUISITIONS MERGERS : LAW : GOVERNMENT : PUBLISHERS PUBLISHING AND PUBLICATIONS: Bloomberg Makes Agreed $990m bid for BNA - David P. Dillard