Science and Research Content

McGraw Hill bids for Reed Elsevier's trade magazine arm -

Publisher McGraw Hill, US, and private equity firms Bain and TPG have reportedly expressed interest in acquiring Reed Elsevier's trade magazine arm, Reed Business Information (RBI), which is valued at £1.25 billion.

The sale of RBI, whose titles include New Scientist and Flight International, began last week when information was sent to potential bidders. RBI is the largest B2B publisher in North America, with 2,500 employees and 80 magazines. If the sale is executed, it would be the biggest media takeover since the sale of Emap at the end of 2007.

Reed, which wants to reduce its dependence on advertising revenue, is offering to lend about £160 million to the successful bidder. An additional £560 million will be offered as a loan by a consortium of banks.

The first round of bids is expected to be completed by mid-August.

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