American Lawyer Media up for sale?
Our thanks to our US associates – the Law Librarians News (see link to House of Butter blog in the sidebar) for drawing our attention to a story that escaped our radar… The Daily Telegraph (via DealBook) is reporting that Bruce Wasserstein’s private equity firm US Equity has engaged Credit Suisse to shop around the ALM group, whose product portfolio includes American Lawyer Media publishing, the LegalTech events and Law.com. Potential buyers are reported to include Reed Elesvier, Informa and UBM. The company, which is understood to make profits of around US$55 million, could fetch between $600 million and $700 million. Anup Bagaria, vice chairman of Wasserstein & Co, said: “We are not sending a book out on ALM and we are not running an auction process. We have talked to people about the company. If the right price came along, we could sell.”