HARCOURT GENERAL TO EXPLORE OPTIONS, INCLUDING POSSIBLE SALE.Harcourt General Corp.. Chestnut Hill Chestnut Hill may refer to: In geography:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) to explore a range of strategic alternatives to enhance shareholder value., including the possible sale of the company. The company said there is no assurance that any transaction will ever be completed and will have no further' comment on the subject until Goldman, Sachs completes its assignment. Harcourt General provides educational, training,, and assessment products, information and services to classroom, corporate, Professional and consumer markets. For fiscal year ending Oct. 31, 1999% the company had revenues of $2.14 billion and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of $535 million. In April of this year, the company agreed to sell $50 million aggregate value of its common-stock ($36.44 per share) to Solomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. acting as agent for Citibank. In May, Harcourt acquired the 33% stake in MD Consult (St. Louis, MO) owned by Lippincott, Williams & Wilkins, making Harcourt the sole owner of MD Consult. Also last month, the company sold its professional, tax and accounting publishing assets, Professional Publishing (San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA), to Wolters Kluwer Wolters Kluwer N.V. (Euronext: WKL) is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. . Harcourt chairman Richard Smith Richard Smith is the name of:
Harcourt General, which is 28% owned by the Smith family, was acquired as Harcourt Brace Jovanovich by General Cinema Corp. in 1991. |
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