Guardian Teams With Apax For Emap B2B Bid: Report
By Robert Andrews - Mon 15 Oct 2007 12:19 AM PST
On Friday, we noted The Times’ report that Guardian Media Group (GMG), United Business Media, Apax, Cinven and Providence are through to the second round to bid for Emap’s B2B division, valued at up to £1.3 billion. Now today’s FT reckons one of those bids actually comes from GMG and Apax together.
Remember that GMG has experience with Apax, having sold a 49.9 percent stake in Trader Media Group in March in a sale that valued the company at £1.35 billion and left GMG with a £675 million acquisitions warchest. GMG CEO Carolyn McCall last month told paidContent:UK: “You can look at sectors we’re not in, like business-to-business, and you can say that’s a very attractive sector for us, but I don’t know whether we will be able to acquire in that sector because it’s very a competitive sector in terms of acquisitions.” So a leg-up from Apax might help. Emap (LSE: EMA) business titles include Broadcast and Screen International.
Posted in: Companies, Guardian Media Group, Media, Magazines, Newspapers, Money, M&A
