Jul
24
FT Chase Won by Nikkei Leapfrogged Bid by Axel Springer
Posted in: Uncategorized
For Nikkei Inc., Japan’s biggest financial news group, Thursday’s $1.3 billion deal to buy the Financial Times capped a lengthy pursuit of the pink-hued newspaper.
Eager to diversify outside of its home market and gain gravitas in the English-speaking world, Nikkei had approached owner Pearson Plc repeatedly over the past few years about buying the FT, only to be told the title wasn’t for sale, according to people familiar with the matter who asked not to be identified because the information is private.
Pearson fired the starting gun early in the summer, when the company put word out to potential buyers that it was prepared to sell.
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