Veronis Suhler Stevenson (VSS) has sold off David Fulton Publishers which was part of Granada Learning, to Informa plc. The price whilst not disclosed is though to have been between £2.5-4m given that David Fulton’s 2005 turnover a little more than £2m.
One oddity in this deal, is that Informa have made no announcement to the Stock Exchange and yet Roger Horton the CEO of the Taylor & Francis Group (a subsidiary of Informa), was quoted in The Bookseller, on September 15, saying, ‘it’s (the purchase) an ideal fit. It’s a good list, albeit a small one’.
Informa may argue that such a small amount is not a material transaction and therefore no disclosure is required, but this attitude is a stark contrast to Huveaux, who put out an immediate announcement when they picked up the Letts Revision Guide business at the start of the September. Perhaps Informa’s shareholders don’t care a jot about whether they own David Fulton, but then again some just might.
Veronis Suhler Stevenson sell David Fulton to Informa.
