DOJ trial to block PRH/S&S merger begins

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DOJ trial to block PRH/S&S merger begins

Aug 01 2022

The government’s bid to block Penguin Random House’s acquisition of rival Big Five publisher Simon & Schuster gets underway today in Washington, D.C., today, with the case expected to run about three weeks. Meanwhile, filings made public late on July 29 shed light on a lingering pre-trial evidence dispute that could impact PRH’s defense.

The dispute involves PRH’s claims that its acquisition of Simon & Schuster would create “cognizable merger-specific efficiencies.” But according to court filings, PRH’s expert witness, Edward Snyder, conceded in his testimony he did not seek to independently verify the numbers he used in forming his opinion on such efficiencies...

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