Bloomberg to acquire Arlington-based publisher BNA
- August 25, 2011
Bloomberg, a New York-based financial news organization, plans to acquire Arlington-based BNA, a publisher of information and analysis products, in an all-cash deal worth $990 million.
Under terms of the deal, Bloomberg will acquire all shares of BNA for $39.50 per share in a cash tender offer. The transaction is expected to close in 2011.
BNA, which is wholly owned by current and former employees, would become a stand-alone subsidiary of Bloomberg.
Bloomberg said the acquisition would strengthen its offerings in the legal information market by complementing Bloomberg Law with BNA’s tax and regulatory content. The acquisition also is expected to enhance Bloomberg’s presence in the Washington, D.C., area.
“BNA’s employees have built a superior franchise, and we are enthusiastic about a Bloomberg-BNA combination that will deliver more premium content to our professional audiences,” said Dan Doctoroff, CEO and President of Bloomberg. “BNA research and analysis will make Bloomberg’s products even more valuable, and BNA would benefit from our data and technology expertise.”
The tender offer is expected to start by Sept. 8.