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Tuesday, August 26, 2008

RBI Deal Announced October

Dow Jones is reporting that RBI staff have been told to expect an announcement on who the buyer is during October. The article also quotes a senior Reed Elsevier source as saying that the criteria for selection of a buyer will be based on the creation of shareholder value.

I am sure this comes as no surprise, but that means the business will go to the highest bidder, not the bidder who comes up the nicest plan for the future.

Also, an announcment in October is likely to mean a completion in December - as we have said all along.

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