Acquisition
28 June 2001 - 4:20AM
UK Regulatory
RNS Number:0088G
Thomson Corporation
27 June 2001
( BW)(THOMSON-CORPORATION)(TOC.TO) The Thomson Corporation
Acquisition of Select Harcourt Businesses Receives United States
Department of Justice Clearance
Business Editors
TORONTO--(BUSINESS WIRE)--June 27, 2001--The Thomson Corporation
(TSE:TOC) today announced that the United States Department of Justice
has cleared its proposed US$2.06 billion acquisition of select
Harcourt General, Inc. (NYSE:H) businesses from Reed Elsevier plc
(LSE:REED, ASE:ESL).
After a thorough review, Thomson has agreed with the Justice
Department to sell certain overlapping products and services resulting
from the acquisition. Thomson will sell certain college textbook
products and intends to sell portions of Assessment Systems, Inc.
(ASI) over a 120-day period commencing immediately.
The assets Thomson has agreed to sell account for less than 1
percent of Thomson 2001 pro forma revenues. Thomson has retained
Berkery, Noyes & Co. to manage the sale of the college education
titles and Merrill Lynch to coordinate the sale of the ASI assets.
About The Thomson Corporation
The Thomson Corporation (www.thomson.com), with 2000 revenues of
approximately US$6 billion, is a leading global e-information and
solutions company in the business and professional marketplace. The
Corporation's common shares are listed on the Toronto and London stock
exchanges.
This news release includes forward looking statements, which are
based on the Corporation's current expectations and assumptions, and
are subject to a number of risks and uncertainties that could cause
actual results to materially differ from those anticipated. Such risks
and uncertainties include, among others, general business and economic
conditions and competitive actions.
CONTACT: Investor Contact:
The Thomson Corporation
John Kechejian, 203/328-9470
john.kechejian@thomson.com
or
Media Contact:
The Thomson Corporation
Jason Stewart, 203/328-8339
jason.stewart@thomson.com
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