ALM Media, owners of over 350 legal and property titles including American Lawyer and National Law Journal, is being sold by its present owners to an investor consortium which is led by its former owner, Wasserstein. The deal is also said to be taking place at a discount to the US$630m price at which ALM Media was originally sold in 2007. Today’s price is said to be some US$417m. The present sellers are Apax Partners and the Royal Bank of Scotland. Ontario Pension Board, Pantheon, the Honeywell pension and HighVista Strategies are co-investing int the company. The deal is the latest in the legal marketplace which has seen Bloomberg snap up BNA for around $US1billion and LexisNexis buy up Law360. Source: ABA
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