Merger of Random House and Penguin ready to win approval
28 March 2013 3:08am
THE MERGER between book publishing giants Penguin and Random House looks set to be approved by the EU shortly, with the two parties not being forced to offer any concessions.
Despite the merger creating the world’s largest company of its kind, it is understood that neither party has offered to sell off sections of the business ahead of an April deadline for a decision.
The merger, which was announced in October last year in a bid to create a powerful publisher that could take on the bargaining power of Apple and Amazon, has already been approved by regulators in New Zealand and the United States.
Pearson, the owner of Penguin, Random House’s German owner Bertelsmann and the European Commission did not comment.
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