Ripplewood Holdings To Acquire Reader's Digest

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Ripplewood Holdings To Acquire Reader's Digest

Dec 06 2006

An investor group led by Ripplewood Holdings has agreed to buy Reader's Digest.  They plan to pay $17 per share and will assume all Reader's Digest debt.  Reader's Digest had sales of $2.39 billion for the fiscal year ending June 30 and an operating loss of $45 million; their shares were languishing in the low teens but are now up at about $15.  The deal is expected to close in the first quarter of calendar 2007.

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