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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Interactive Data Corp. | NYSE:IDC | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 33.84 | 0.00 | 01:00:00 |
Pearson PLC (PSON.LN) said Tuesday it has agreed to sell its 61% controlling stake in Interactive Data Corp. (IDC) for $33.86 a share, netting the U.K.-based publisher around $2 billion before tax.
Interactive Data, a financial market data provider listed in the U.S., is being bought by private-equity firms Silver Lake and Warburg Pincus, for about $3.4 billion.
Pearson, which publishes the Financial Times newspaper and has extensive education-publishing operations, said it will use the sale proceeds "to accelerate the expansion of its businesses, including through bolt-on acquisitions, with a particular focus on adding complementary technology and services to its international, consumer and professional education businesses."
"Pearson and Interactive Data have extensive growth opportunities and ambitious expansion plans, and we believe this transaction will give both companies greater focus and opportunity to invest more in their strong market positions," Pearson Chief Executive Marjorie Scardino said in a statement.
At 0746 GMT, Pearson shares were up 6 pence, or 0.6%, at 1057 pence, valuing the company at GBP8.46 billion in a slightly lower London market.
-By Lilly Vitorovich, Dow Jones Newswires; 44-0-207 842 9290; lilly.vitorovich@dowjones.com
1 Year Interactive Data Chart |
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