Penguin Random House scraps $2.2 bln deal to merge with Simon & Schuster
Source: Reuters
WASHINGTON, Nov 21 (Reuters) - Penguin Random House, the world's largest book publisher, and smaller U.S. rival Simon & Schuster have scrapped a $2.2 billion deal to merge, Penguin owner Bertelsmann (BTGGg.F) announced on Monday.Bertelsmann, a German media group which owns Penguin, initially said it would appeal a U.S. judge's decision that said its purchase of Simon & Schuster would be illegal because it would…
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