MERGER BY PENGUIN
I American Firm Withdraws I (N.Z.P.A.-Reuter—Copyright) LONDON. Aug. 16. McGraw-Hill, the giants United States publishing group announced that it called off attempts to gain; control of the Penguin paper-back-book publishing empire. McGraw-Hill's withdrawal leaves the field open to the British Pearson - Longman group, which is at present involved in merger talks with Penguin. The talks failed to produce agreement on the terms of a possible McGraw-Hill counterbid to Penguin’s proposed combination with the PearsonLongman group, said a spokesman for McGraw-Hill's London bank. At present McGraw-Hill controls 17 per cent of Penguin shares. These votes would be cast against the Pearson-Longman. take-over, he added. The withdrawal announcement brought a sharp fall, of 2s 9d in the value of Penguin shares on the London Stock Exchange last night
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19700819.2.183
Bibliographic details
Press, Volume CX, Issue 32379, 19 August 1970, Page 17
Word Count
129MERGER BY PENGUIN Press, Volume CX, Issue 32379, 19 August 1970, Page 17
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in