Harcourt General on block

Textbook giant has int'l suitors

NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday.

Possible acquirers include Germany’s Bertelsmann, Anglo-Dutch pub-lisher Reed Elsevier (the parent company of Variety) and Thomson Corp. of Canada. U.S. rivals McGraw Hill Cos. and Houghton Mifflin along with U.K. group Pearson are also potential suitors in what would be a multibillion-dollar transaction.

The announcement pushed stock of Boston-based Harcourt up by more than 30% to nearly $55.

Harcourt posted 1999 revenues of $2.1 billion and net profits of $535 million.

More News

  • No Merchandising. Editorial Use OnlyMandatory Credit:

    Musicians React to Pat DiNizio's Death

    NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday. Possible acquirers include […]

  • Roman Polanski

    LAPD Investigating Allegations Against Roman Polanski, Case Cannot Be Prosecuted

    NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday. Possible acquirers include […]

  • Democratic candidate for U.S. Senate Doug

    Celebrities Celebrate Doug Jones' Senate Win: 'This Is A Pretty Good Night'

    NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday. Possible acquirers include […]

  • The Smithereens'Rock Con', New York, America

    Pat DiNizio of the Smithereens Dies at 62

    NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday. Possible acquirers include […]

  • Weinstein Asian Executive Bey Logan Accused

    Weinstein Asian Executive Bey Logan Accused of Sexual Misconduct

    NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday. Possible acquirers include […]

  • Democratic candidate for U.S. Senate Doug

    Democrat Doug Jones Defeats Republican Roy Moore in Alabama Senate Race

    NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday. Possible acquirers include […]

  • 12 of the Craziest 'Star Wars:

    12 of the Craziest 'Star Wars: The Last Jedi' Fan Theories

    NEW YORK — Giant educational and textbook publisher Harcourt General has hired investment bank Goldman Sachs to explore a sale, as the company has become irked that “its value in the public market does not presently reflect the quality of its businesses, record results and bright prospects,” chairman Richard Smith said Monday. Possible acquirers include […]

More From Our Brands

Access exclusive content