U.K. Library Group Makes Noise About Harcourt Takeout

While research libraries in the United States were quick to censure the planned $4.5 billion takeout of Harcourt General Inc., analogous organizations in the United Kingdom have also voiced their opposition to the deal. The Consortium of Research Libraries (CURL), whose members include Cambridge University Library and Oxford University’s libraries, “is indeed concerned about the implications of the proposed merger of Reed Elsevier and Harcourt,” said Chris Bailey, executive secretary of CURL. Reed, on Oct. 27, announced its $59-per-share definitive to acquire Harcourt. Per the agreement, Thomson, which publishes Mergers & Acquisitions Report, will purchase Harcourt’s higher education and corporate/professional units for $2.06 billion as Reed closes its takeout of Harcourt. At press time, Harcourt closed at $57.24 per share.