KKR, CVC Team Up To Bid For Pearson's IDC - Source

Kohlberg Kravis Roberts and CVC Capital Partners have teamed up to bid for Interactive Data Corp. (IDC), the U.S.-listed financial data provider majority owned by U.K. publisher Pearson PLC (PSO), a person familiar with the situation told Dow Jones Monday.

The buyout duo join other private equity groups in the auction, including Bain Capital LLC and Advent International Corp., and Hellman & Friedman LLC and Silver Lake Partners.

Trade player McGraw-Hill Cos. (MHP) has also put in a bid, people said.

Pearson, which also publishes the Financial Times newspaper and owns a large U.S. educational publishing business, hired Goldman Sachs (GS) in January to conduct a "preliminary review of strategic alternatives" for IDC in which it has a 61% stake.

This led to a sales process and the company shortlisted a handful of bidders earlier this month, people previously told Dow Jones.

-By Marietta Cauchi; Dow Jones Newswires; 415 439 6455; [e-mail]