Pearson and Bertelsmann have been notified by the US Department of Justice that it has closed its investigation into the proposed merger of Penguin and Random House, without conditions.
The two companies announced their agreement to combine Penguin and Random House in October 2012. The proposed merger is currently under review by the European Commission, the Canadian Competition Bureau and various other antitrust authorities around the world. Pearson and Bertelsmann continue to expect the transaction to close in the second half of 2013, after all necessary approvals have been received.
Following completion, Bertelsmann will own 53% and Pearson 47% of Penguin Random House. It will encompass all of Random House and Penguin Group’s publishing units in the U.S., Canada, the U.K., Australia, New Zealand, India and South Africa, as well as Penguin’s operations in China and Random House’s publishers in Spain and Latin America.
UK, London & Germany, Gütersloh & USA, New York, NY
Related links:
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- Pearson announces Investment in Nook Media Posted on January 5, 2013
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- Pearson and Bertelsmann agree Penguin and Random House merger Posted on October 29, 2012
- Bertelsmann and Pearson in talks about combining their publishing divisions posted on October 25, 2012
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- 72% rise in profits at Pearson Posted on February 28, 2012
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- Pearson to buy Melario for £99.3 million Posted on May 20, 2010
