Thursday, August 25, 2011

Bloomberg Acquiring BNA

3 Geeks and a Law Blog posted a press release confirming that Bloomberg is buying BNA. 

“Bloomberg and BNA today announced that they have entered into an agreement for Bloomberg to acquire all of the outstanding shares of BNA for $39.50 per share in a cash tender offer followed by a merger for a total purchase price of approximately $990 million.  The transaction is expected to close in 2011.

BNA, which is wholly owned by current and former employees, provides important legal, tax and regulatory research and analysis and would become a stand-alone subsidiary of Bloomberg."

Full press release posted here.

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