Dow Jones Newswires First to Report on Candover Investments' Sale of Wood Mackenzie
18 June 2009 - 11:00PM
PR Newswire (US)
- Candover Investments' stock rose nearly 30% in the hours
following the Dow Jones Report - NEW YORK, June 18 /PRNewswire/ --
On June 9, 2009, Dow Jones Newswires reported that Charterhouse
Capital was in exclusive talks to buy Wood Mackenzie, Candover
Investments' energy research portfolio company. In what could be
the UK's biggest leveraged buy-out this year, Dow Jones reported
that Charterhouse was bidding GBP550 million for Wood Mackenzie,
far lower than the GBP650 million that Candover originally wanted.
The news caused Candover Investments' share price to surge nearly
30% as hopes were raised that this survival strategy might succeed,
following the failure of its listed fund and parent, Candover
Investments PLC. Dow Jones was nearly two hours ahead of Thomson
Reuters with this market moving news, and unmatched by Bloomberg.
The Financial Times ran the news the following day. More than
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