Reed Elsevier plc’s pending $4.5 billion acquisition of Harcourt General Inc. was dealt a sizeable timing blow last Wednesday. It was revealed that day that Reed, of which Netherlands-based Elsevier NV and London-based Reed International plc each own roughly 50%, faces a full inquiry from England’s Office of Fair Trading on the Harcourt deal. That process puts the deal out to at least May 28 and likely beyond.
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