The Financial Times is being touted for sale by investment banks including Nomura and Bank of America Merrill Lynch for up to £1bn.
Banks are said to be seeking offers for between £740m and £1bn for The Financial Times, equivalent to 37 times its projected earnings before income, taxation and depreciation in the current financial year
Some of the banks are also offering publishing group Pearson’s share in The Economist magazine, as well as acquisitions database Mergermarket to potential buyers, according to documents.
The FT owner has repeatedly denied appointing advisors to sell the newspaper and has indicated to investment banks that it is unlikely to chase a deal for the title in this way. However, banks are courting potential buyers so that they can present the media and education group with an offer, following the pattern of previous Pearson divestments.
Read the rest at Financial Times touted by banks for £1bn – Telegraph.
