Geoff Foster of the Daily Mail in England reports Thursday that Pearson Plc’s shares are trading higher amid speculation that the company will sell The Financial Times.
“Management buy-out and KKR break-up rumours also did the rounds, but buyers preferred to focus on the possibility of the City bible at last being offloaded. It returned to a £2m profit in 2005 after a reduction in costs and following a more benign advertising market helped it wipe out a loss of £9m incurred in 2004.
“Scardino has been at Pearson for 10 years and fund managers expect a corporate restructuring soon. She recently raised £286m from the sale of Pearson’s government arm which handles applications from US students for financial aid. If the FT was sold, analysts say it would boost earnings by 7% and enable Scardino to continue building a leading position in the US education business.”
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In March 2002 she said the FT will be sold ‘over my dead body’. Now considered to be well past her sell-by date, shareholders are ready to force her hand.
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