Actual News History Analyses Other

Elsevier News



profile

quote

news

options
-

 Friday December 7 2001
Reed Elsevier appoints Lord Sharman as a non-executive director
Reed Elsevier announced on Friday the appointment of Lord Sharman as a non-executive director to the company. Lord Sharman will join the Board on 1st January 2002. It is proposed that he will assume chairmanship of the Audit Committee when David Webster, its current chairman, retires from the Board at the conclusion of the Annual General Meeting in April 2002.

Thursday December 6 2001
Reed Elsevier predicts higher profit
Reed Elsevier announced before trading on Thursday that it expects double-figure growth of earnings per share in 2002. At the same time, Reed Elsevier maintained its forecast for this year: double-figure growth of earnings per share before goodwill amortisation, intangible assets and exceptional items.

Friday October 12 2001
Elsevier invests in Irish firm
Reed Elsevier has invested USD 25 mln for a 3.8% stake in Irish education software company Riverdeep, the company reported on Friday. Reed Elsevier has acquired 1.39 million new Riverdeep American depositary receipts at USD 18 apiece. The Irish company, which operates mainly in the US, also said it had formed an alliance with US-based Harcourt Education Group, recently acquired by Reed Elsevier, to develop educational software for children.

Thursday August 9 2001
Adjusted operating profit Reed Elsevier H1 2001
The results of Reed International reflect its shareholders' 52.9% economic interest in the Reed Elsevier combined businesses. The results of Elsevier reflect its shareholders' 50% economic interest in the Reed Elsevier combined businesses. The respective economic interests of the Reed International and Elsevier shareholders take account of Reed International's interest in Elsevier.

Monday July 16 2001
Reed Elsevier completes on-sale certain Harcourt business to Thomson Corp.
Following the completion of its acquisition of Harcourt General., Reed Elsevier announced on Monday the successful completion of its on-sale to The Thomson Corporation of Harcourt's Higher Education and certain Corporate and Professional Services businesses for USD 2.06 bn. Reed Elsevier will retain Harcourt's Scientific, Technical and Medical business and US Schools Education and Testing businesses.

Reed Elsevier intends to launch a multi-currency bond issue
Reed Elsevier has announced its intention to launch a multi-currency global bond issue to refinance short term borrowings following the acquisition of the scientific, technical and medical business and the US K-12 schools educational and testing businesses of Harcourt General,. The portion of the global bond offering to be made in the United States will be registered with the US Securities and Exchange Commission.

Tuesday July 10 2001
How Reed Elsevier turned itself around
Reed Elsevier PLC, formed in 1993 by a merger between Reed International PLC of Britain and Elsevier of the Netherlands, has been transformed from being a strife-ridden and underperforming company into a stock market success in the space of just two years. Crispin Davis, 52, who joined the company in September 1999 after a career in advertising and consumer products, replaced 11 of the company's top 12 managers and installed a Westlaw executive to head the legal division.

Thursday July 5 2001
Reed Elsevier acquires Harcourt General
Reed Elsevier announces acquisition of Harcourt General,. approved by UK Department of Trade & Industry, and announces extension of Harcourt tender offer until 8:00 p.m. New York City time on Wednesday, July 11, 2001Reed Elsevier plc announced on Thursday that the Minister for Competition at the UK Department of Trade & Industry (DTI), Melanie Johnson MP, has approved its acquisition of Harcourt General,..

Thursday June 28 2001
Reed Elsevier announces completion of US Department of Justice
Reed Elsevier announces completion of US Department of Justice review of on-sale to Thomson and extension of Harcourt offer until 8:00 p.m. New York City time on Friday, July 6, 2001 NEW YORK (June 27, 2001) Reed Elsevier. on Thursday announced that the US Department of Justice has completed its review of Reed Elsevier's proposed on-sale of certain assets of Harcourt General,.

Monday June 18 2001
Reed Elsevier extends Harcourt tender offer
Publicly listed B2B eCommerce software company TIE Holding N.V. ("TIE") announces that the fifth settlement on the Equity Line with Navigator Investment Holdings has taken place. Navigator Investment Holdings., is an equity funded by US investment company Talisman Capital Venture Fund L.P. Talisman Capital is an institutional money management firm that is focused on providing growth capital for emerging companies.

Wednesday June 6 2001
Reed Elsevier: Presentation by Crispin Davis at Merill Lynch TMT Conferencer
Presentation by Crispin Davis at Merrill Lynch TMT Conference On Increasing Momentum in an Increasingly Digital World Speaking at Merrill Lynch's annual TMT conference in London on Wednesday, Crispin Davis, Chief Executive Officer of Reed Elsevier plc, gave a presentation showing the company's increasing momentum in the online publishing environment.

Friday June 1 2001
Reed Elsevier Inc. extends Harcourt tender offer
Reed Elsevier. on Friday announced an extension of the expiration date of its tender offer for all outstanding shares of common stock, par value USD 1.00 per share and all outstanding shares of series A cumulative convertible stock, par value USD 1.00 per share of Harcourt General,. ("Harcourt") from 12:00 midnight, New York City time on Monday, June 4, 2001 until 12:00 midnight, New York City time on Monday, June 18, 2001.

Wednesday February 28 2001
Reed Elsevier Inc extends Harcourt tender offer
Reed Elsevier. ("Reed Elsevier") on Wednesday announced an extension of the expiration date of its tender offer for all outstanding shares of common stock, par value USD 1.00 per share and all outstanding shares of series A cumulative convertible stock, par value USD 1.00 per share of Harcourt General,.

Thursday February 22 2001
Reed Elsevier: highlights of 2000 preliminary results
Overall 2000 revenue was up 9% at constant exchange rates with adjusted pre-tax profits 3% lower. In reported currencies, revenues were up 11% to GBP 3,768 mln and 20% to Eur 6,180m whilst adjusted pre-tax profits were lower by 3% to GBP 690 mln/up 5% to Eur 1,132m. Excluding acquisitions and disposals and currency translation, underlying revenue growth was up 5%.

Wednesday February 21 2001
Reed Elsevier has referred its proposed acquisition of Harcourt General
Reed Elsevier on Wednesday announced that Kim Howells, the UK Minister for Competition and Consumer Affairs has referred its proposed acquisition of Harcourt General. to the UK Competition Commission for further investigation. The Minister's statement refers to concerns relating specifically to the scientific, technical and medical journals market.

Elsevier sells roots
Reed Elsevier is selling its encyclopaedia subsidiary Winkler Prins to Dutch rival PCM for an undisclosed sum. Elsevier owes its post-war expansion to pre-payments for the popular encyclopaedia, which was published between 1947 and 1954. The sale of over 10,000 encyclopaedias yielded the then impressive sum of Fl 7m.

Wednesday February 7 2001
Reed Elsevier extends Harcourt tender offer
Reed Elsevier on Wednesday announced an extension of the expiration date of its tender offer for all outstanding shares of common stock, par value USD 1.00 per share and all outstanding shares of series A cumulative convertible stock, par value USD 1.00 per share of Harcourt General,. from 12:00 midnight, New York City time on Thursday, February 8, 2001 until 12:00 midnight, New York City time on Wednesday, February 28, 2001.

Tuesday January 9 2001
Reed-Elsevier again extends tender period
Reed-Elsevier again extends the tender period for its bid on US publisher Harcourt by a month. The tender period now matures on Thursday 8 February. The decision was again made to give the authorities involved more time to judge the transaction. The publishing house still expects to complete the acquisition in the first quarter of this year.

Monday January 8 2001
Reed Elsevier extends Harcourt offer
Reed Elsevier on Monday extended its tender offer for the second time for US publisher Harcourt General. The offer was now due to end on February 8, Reed Elsevier said in a statement. The bid, originally due to expire on December 7, had already been extended to January 8. On both occasions Elsevier said the extensions were "to accommodate the regulatory review processes" and that the offer might be extended again.

Wednesday December 6 2000
Reed Elsevier extends harcourt tender offer
Reed Elsevierwon Wednesday announced an extension of the expiration date of its tender offer for all outstanding shares of common stock, par value USD 1.00 per share and all outstanding shares of series A cumulative convertible stock, par value USD 1.00 per share of Harcourt General,. from 12:00 midnight, New York City time on Thursday, December 7, 2000 until 12:00 midnight, New York City time on Monday, January 8, 2001.

Friday December 1 2000
Reed Int. and Elsevier announcement of exercise of over-allotment option
Reed International P.L.C. and Elsevier announce that the over-allotment options they had granted ABN AMRO Rotschild, Cazenove & Co and Morgan Stanley Dean Witter in connection with the international offering announced on 29 November 2000, to purchase up to an additional 14.83 million Reed International new ordinary shares and an additional 8.65 million Elsevier new ordinary shares were exercised in full on 30 November 2000.

Thursday November 30 2000
Reed Int. and Elsevier: announcement of exercise of over-allotment option
Reed International P.L.C. and Elsevier announce that the over-allotment options they had granted ABN AMRO Rotschild, Cazenove & Co and Morgan Stanley Dean Witter in connection with the international offering announced on 29 November 2000, to purchase up to an additional 14.83 million Reed International new ordinary shares and an additional 8.65 million Elsevier new ordinary shares were exercised in full on 30 November 2000.

Wednesday November 29 2000
Reed plans USD 1.7 bn share issue
Reed Elsevier, the Anglo-Dutch publisher, on Tuesday announced plans for a GBP 1.2 bn (USD 1.7 bn) share issue to help fund its acquisition of Harcourt General, the US textbook publisher. The offering of up to 9.9% of the outstanding equity of parent companies Reed International in the UK and Elsevier in the Netherlands will reduce group debt and allow flexibility for further acquisitions.

Wednesday November 8 2000
Reed Elsevier launch of tender offer for Harcourt General Incorporated
Reed Elsevier plc confirms that through its US subsidiary it has launched on Wednesday the previously announced tender offer for the common stock of Harcourt General,. for a purchase price of USD 59.00 net per share for each share of common stock and USD 77.29 net per share for each share of Series A Cumulative Convertible Stock.

Friday November 3 2000
Reed, Thompson attempt to buy Harcourt could face tough antitrust scrutiny
Reed Elsevier PLC and Thomson Corp's plans to purchase the publishing firm Harcourt General. look set to come in for intense scrutiny by antitrust regulators. Some well-placed observers are of the opinion that the Department of Justice is likely to demand that the acquisitive firms sell off parts of their target's operations if the deal is to be allowed to go through.

Friday October 27 2000
Reed Elsevier to acquire Harcourt
Reed Elsevier to acquire Harcourt General's Scientific, Technical and Medical business and US Schools Education and Testing businesses for net cost of USD 4.5 bn Acquisition announced of whole of Harcourt General. for USD 4.45 bn and the assumption of USD 1.20 bn in debt, and on-sale of Higher Education and certain Corporate and Professional Services businesses to The Thomson Corporation for USD 2.06 bn Combination of Harcourt Scientific, Technical and Medical (STM) business and Elsevier Science provides strong leadership position across entire scientific, technical and medical spectrum: - enhances world leading scientific information business - creates pre-eminent position in medical publishing Acquisition of Harcourt K-12 (kindergarten to grade 12) Education and Testing transforms Reed Elsevier's education business to create new global publishing division: - establishes excellent position in fast growing US schools education market - creates leading position in schools education in English speaking world Acquisition creates higher quality portfolio and accelerated revenue and profit growth: - accretive to adjusted earnings in year one Acquisition implementation: - cash tender offer for Harcourt General at USD 59 per share recommended by Harcourt Board - back-to-back on-sale agreement with The Thomson Corporation for certain Harcourt businesses - initial financing through USD 6.5 bn new bank facilities; intention to refinance through term debt issuance; new equity, in the equalisation ratio, of up to 10% of the issued share capitals of Reed International and Elsevier to be considered subject to market conditions.

Monday September 25 2000
Elsevier Science enlarges electronic archive
Elsevier Science announced on Monday that it was enlarging its electronic archive of science and medical journals, which currently extends back to 1995. It will provide its full text online customers with a permanent electronic archive back to (in most cases) volume 1, issue 1. Elsevier Science will give first priority towards providing this electronic archive for its chemistry and chemical engineering journals.

Wednesday September 13 2000
Gale Group acquires K.G. Saur Verlag from Reed Elsevier
Akzo Nobel said on Wednesday it had invested USD 50 mln to open a new production line at Lima, Ohio, more than doubling staffing at the site. The new chelating agent manufacturing unit has sufficient capacity to meet expeted future demand for intermediate and finished chelated products such as its Dissolvine brand, Akzo said in a statement.

Friday August 18 2000
Reed Elsevier's Cahners divests ops
Cahners Business Information, a unit of Reed Elsveier PLC, said it hired two banks to help with the divestment of several publications including those in Cahners Travel Group and the Automotive & Trucking Group. Allen & Co will advise on the sale of Cahners Travel Group, which includes such titles as Hotel and Travel Index, Travel Weekly and others.

Tuesday August 15 2000
Reed Elsevier's Cahners links up with B2B site
Packexpo.com said Cahners Business Information, a unit of Reed Elsevier, will provide content for its business-to-business online packaging platform. Cahners' Packaging Digest will provide content, advertising and sales support to the site on an exclusive basis, while also giving links to Cahners other packaging-related publications. Packexpo.com receives about 75,000 visitors per month.

Wednesday August 9 2000
Reed Elsevier tightens cost savings targets
Reed Elsevier, the Anglo-Dutch publisher, on Wednesday raised its target for cost savings in 2000 by GBP 10 mln to GBP 140 mln, as it reported a better than expected set of interim results. Crispin Davis, chief executive, said the group was on track to achieve annual cost savings of GBP 170 mln in 2001 as part of a radical restructure programme designed to reverse the recent fall in the company's share price.

Monday August 7 2000
Reed Elsevier mulls USD 6 bn Harcourt bid
Reed Elsevier is considering a USD 6 bn bid for US textbook publisher Harcourt General, which put itself up for sale in June, the Sunday Telegraph reported. Reed Elsevier is thought to be looking at the business and talking to Goldman Sachs, which has been appointed to handle the sale. The paper reported observers as stressing that the sale process was still in its early stages.

Tuesday July 25 2000
Reed Elsevier buys Miller Freeman Europe
Reed Elsevier on Tuesday agreed to buy Miller Freeman Europe, which runs trade shows, from United News & Media for GBP 360 mln (USD 544 mln) cash. The move will propel Reed Exhibition Companies, a wholly-owned subsidiary of Reed Elsevier, to the number one spot in the global exhibition business, extending its reach in leading European markets.

Wednesday June 21 2000
Elsevier makes appointments
Reed Elsevier announced on Wednesday it was appointing Keith McGarr new global chief technology officer and Jean Luc Augustin director of human resources. McGarr, who was responsible for IT network-based and distributed services for Federal Express Corp and has held several senior posts in network computing, will take up the job in early July.

Monday June 19 2000
Elsevier wins lawsuit
Reed Elsevier on Monday reported it had won a legal battle with US legal information provider Jurisline.com. In a statement, it said a New York state court had entered a final judgement against Jurisline.com on claims of breach of contract entered by the Reed subsidiary Matthew Bender. Meanwhile, in the US Federal Court, Jurisline's claims on antitrust, copyright and other grounds against Reed Elsevier were dismissed, it said.

Wednesday June 14 2000
Reed Elsevier says US, science units on track
Reed Elsevier said on Wednesday its key US and Elsevier Science businesses were performing in line with expectations and are on track to meet strategic objectives. In a preview of a presentation to institutional investors in New York, Reed said Elsevier Science CEO Derk Haank would tell investors that roll out of the ScienceDirect web-based scientific information services was progressing well.

Tuesday June 6 2000
Reed Elsevier buys e-Logic
Cahners Business Information announced Monday it bought ELogic, a provider of Web-based content management applications for media and Internet companies, for USD 79 mln. Cahners, a unit of Anglo-Dutch publishing giant Reed Elsevier PLC, said the acquisition would help it expand its business-to-business offerings.

Monday June 5 2000
Elsevier acquires Riskwise
Elsevier has acquired the US-based firm Riskwise INternational for USD 90 mln. Riskwise develops software used by companies to prevent internet fraud involving personal information and payments.

Monday May 22 2000
Wolters Kluwer buys US publisher
Reed Elsevier said on Monday it had sold US unit Springhouse to Wolters Kluwer. Reed Elsevier said in a statement it was selling Springhouse, which provides information products and services to the US nursing market, because it did not fit with the company's strategy. Springhouse, based in Philadelphia, posted sales last year of USD 59 mln. The transaction is expected to be completed next month.

Wednesday April 26 2000
Reed Elsevier says made solid start
Reed Elsevier said on Wednesday it had made a solid start this year. Last February, Elsevier said that 2000 would be a year of significant investment. The publisher unveiled plans to plough more than 750 million pounds into new Internet projects. Reed Elsevier expected that 2000 profits would be "somewhat" below those of 1999, but added results would improve progressively in later years.

Monday April 3 2000
Reed Elsevier, Aspect Development in pact
Software maker Aspect Development. and Cahners Business Information, the trade publisher owned by Anglo-Dutch business information firm Reed Elsevier, on Monday said they would collaborate on the formation of an online business-to-business marketplace for manufacturers. The new company, Manufacturing.Net, will form around an existing manufacturers' Web site, also called Manufacturing.net, which Cahners has operated since 1996, the companies said in a joint statement.

Monday March 27 2000
Reed Elsevier acquires CMD Group
Reed International PLC said its US-based business information unit Cahners Business Information is to acquire CMD Group for USD 299.5 mln. The acquisition of CMD, formerly Construction Market Data Group, is a "significant expansion of Reed Elsevier's position in the worldwide construction information market", the company said.

Reed Elsevier expands internet presence
Cahners Business Information, a trade publisher owned by Reed Elsevier, agreed to buy a building industry publishing business in a USD 300 mln deal to develop its construction marketplace online. Reed Elsevier, the Anglo-Dutch information group, last month laid out an aggressive internet strategy to use content from its traditional publishing businesses at the hub of new electronic marketplaces for industry sectors.

Wednesday March 15 2000
Lexis-Nexis chief resigns
Lexis-Nexis' top executive has stepped down and will be replaced by the new head of European parent company Reed Elsevier Hans Gieskes, 45, served for two years as president of Lexis-Nexis, which collects and maintains a database used by lawyers, students, libraries and other subscribers. Crispin Davis, who became chief executive of Reed Elsevier on Sept.

Monday March 6 2000
Versatel starts business portal with Elsevier info
VersaTel said on Monday it had launched the first free Dutch language portal for the business market called "24 hours" with information from publisher Elsevier. The new portal would be active within VersaTel's new Internet division. Elsevier will provide the '24 hour' portal-site with exclusive business content, delivered by Elsevier's business magazine Fem/De Week, a weekly financial and economic magazine, VersaTel said in a statement.

Friday February 25 2000
Reed shares fall further
Shares in Reed Elsevier continued to fall sharply on Friday as investors remained stubbornly underwhelmed by its internet investment programme. Reed International's stock dropped 8.25% by the close of London trade, falling 45.25p to 503p. The continued poor performance of the stock followed its 9.4% drop on Thursday.

Thursday February 24 2000
Reed Elsevier invests in Internet projects
Reed Elsevier unveiled plans Thursday to plow more than GBP 750 mln into new Internet projects as it strives to turn its fortunes and reinvent itself. After a disappointing 1999, Reed Elsevier said the ambitious investment program would drive a dramatic comeback for the struggling group, but the market was unconvinced and a number of potentially costly lawsuits coupled with poor results spooked investors, sending shares almost 10% lower.

Elsevier plans Web strategy
Reed Elsevier announced a plan on Thursday to invest USD 1.2 bn to bring its traditional operations online and boost earnings growth. The company, which also reported an 8.2% drop in pretax 1999 profit, said it will pump an USD 400 mln into online activities every year over the next three years. The Internet plans come hot in the tracks of a similar announcement from British financial information provider Reuters Group, which said three weeks ago it will spend USD 800 mln on its digital operations over the next four years.

Reed Elsevier to axe 1,500 jobs
Reed Elsevier said on Thursday it would cut 1,500 jobs as part of plans to save GBP 170 mln (USD 273 mln) a year to help fund an ambitious Internet investment programme. Reed Elsevier has a total workforce of some 26,000 people. The group said job cuts would be partly balanced by new hirings to enforce its new strategy.

Friday February 18 2000
Elsevier may join dot-com rush
Reed Elsevier is expected to be next to sign up for the dot-com gold rush when it unveils results next week. Reed Elsevier's new CEO Crispin Davis will be under pressure to prove he has the right stuff to turn the group around when he rolls out his strategy review to investors for the first time next Thursday.

Tuesday February 1 2000
Reed Elsevier unit files US lawsuit
Reed Elsevier PLC said its subsidiary Matthew Bender & Co has filed a lawsuit in the state of New York against Jurisline.com LLC. The lawsuit alleges that Jurisline has fraudulently obtained Matthew Bender products and sought to use those products in developing a legal information service in breach of express restrictions in its contracts with Matthew Bender.

Thursday January 20 2000
Elsevier acquires FT databank unit
Lexis-Nexis Europe, the electroic databank of Reed Elsevier, has reached agreement to purchase the Business Information Product (BIP) division of the Financial Times Group. Financial details of the transaction were not disclosed. BIP's products are FT Profile, FT Discovery and FT NewsWatch. Customers include many of the world's leading financial services, consulting, legal and media firms.

Wednesday January 12 2000
Elsevier HQ moves to London
Reed-Elsevier said on Wednesday that it is moving most of its Head Quarters activities to London, resulting in the loss of 27 of the 37 jobs at its Amsterdam Head Quarters. A Reed-Elsevier spokesman said that the jobs to be transferred would be corporate jobs such as international auditing and strategy.

Thursday December 9 1999
Reed Elsevier wants on internet
Reed Elsevier plans to make internet-based information services a priority over the next years. On Thursday the company said it planned to increase spending on new product development and marketing, particularly in Internet based information services. Reed Elsevier said that the dditional spend in 2000 is likely to be in the order of GBP 150 mln to GBP 200 mln.

Elsevier issues profit warning
Reed Elsevier warned on Thursday that second half profits would fall. The Anglo-Dutch publisher said that the 1999 results continue to be affected by less favourable market and competitive conditions and by investment, and adjusted pre-tax profits for the second half will be lower than the corresponding period last year. Reed announced a 10% drop in first half earnings in August as tough competition dogged its Lexis-Nexis legal datebase and the Cahners business-to-business publisher.

Wednesday December 8 1999
No price-sentive information by Elsevier
A probe by the AEX into an alleged leak of price-sensitive information by Reed Elsevier has ended without any evidence. In June, it emerged that the publisher reportedly issued a profit warning during an analysts meeting in New York. A week later the company announced an official profit warning. But Reed Elsevier has always denied that such a meeting actually took place. The bourse, despite a thorough investigation, did not unearth any proof.

Tuesday December 7 1999
AEX found no evidence in Elsevier probe
An investigation by the Amsterdam stock exchange into an alleged leak of price-sensitive information by Reed Elsevier has ended without any evidence. In June of this year Reed Elsevier would have issued a profit warning during an analysts meeting in New York. A week later the company announced an official profit warning. Reed Elsevier denied that an earlier analysts meeting took place. The Amsterdam stock exchange did not find any proof that the meeting took place.

Wednesday November 17 1999
Reed Elseviers sells stake in REZsolutions
Reed Elsevier announced on Wednesday that it has sold its 64% stake in REZsolutions to Nasdaq listed Pegasus Systems. Pegasus will issue 2.66 million shares of common stock, pay USD 115 mln in cash and issue a USD 20 mln loan note payable to Reed Elsevier. Based on Pegasus' closing price on Monday the transaction is valued at some USD 254 mln.

Tuesday November 16 1999
Reed Elsevier sues Expedia
Reed Elsevier on Tuesday said it had filed a lawsuit against Microsoft and its recent Internet travel spinoff Expedia. In its suit, a Reed Elsevier unit claimed that Microsoft and Expedia breached a 1998 contract involving Reed Elsevier's Cahners Travel Group business unit. Under the contract, Cahners provided hotel-related information for the Expedia.com travel-oriented Web site, the company said in a statement.

New Reed Elsevier CEO changes board
Crispin Davis, the new chairman at Anglo-Dutch publishing group Reed Elsevier, began choosing his own management team on Tuesday and replaced board member Herman Spruijt with the head of Elsevier's science division Derk Haank. A spokesman said other changes could also be announced when Davis presented his strategic plan at the presentation of the group's 1999 annual results. This year Reed Elsevier has moved from a dual management structure to a single system.

Publishers in major electronic deal
Twelve academic publishers, including Wolters Kluwer and Reed Elsevier, have announced an alliance on the electronic distribution of scientific publications. From next year, readers of one companies' publications will be able to follow links to related publications by rival publishers.

Wednesday October 13 1999
Wolters Kluwer may reopen talks with Reed
Wolters Kluwer could consider reopening merger talks with the Anglo-Dutch group Reed Elsevier, reported the Financial Times, quoting Caspar van Kempen, the company's new chairman. Merger plans by the two companies collapsed last year after the European Commission demanded the sale of parts of the combined operation and Wolters attempted to re-negotiate terms.

Reed Elsevier says no merger plans
Reed Elsevier on Wednesday reiterated that it has no merger plans despite market speculation of a possible tie-up with one-time merger partner Wolters Kluwer. Reed's remarks came after its shares rebounded on the back of comments by Wolters Chairman Casper van Kempen, which reignited market speculation of a possible merger.

Wednesday September 29 1999
Bruggink, Stapleton step down from Reed Elsevier
Anglo-Dutch publishing group Reed Elsevier said on Wednesday the directors of the respective groups would be stepping down from September 30. When Crispin Davis's appointment as Chief Executive Officer was announced in July 1999, Reed Elsevier advised that Herman Bruggink (director of Elsevier) and Nigel Stapleton (director of Reed International) would be leaving later in September 1999, Reed Elsevier said in a statement.

Wednesday September 22 1999
Chief of Reed Elsevier publishing unit steps down
Cahners Business Information, a unit of Anglo-Dutch publisher Reed Elsevier, said Wednesday its president and chief executive officer has resigned. Bruce Barnet stepped down to pursue other business and investment opportunities, company spokesman Tom Nutile said. In August, Cahners laid off 300 employees in the United States, and Reed Elsevier took a USD 30 mln charge to pay for restructuring at the business-to-business publishing unit.

Thursday September 9 1999
Reed Elsevier to forge alliance with JusticeLink
Reed Elsevier said on Thursday its Lexis-Nexis group planned to forge a strategic alliance with JusticeLink for electronic filing of legal documents. With this alliance, Lexis-Nexis, will each be able to offer a more complete set of services to court systems and law firms, the company said. Through this alliance, JusticeLink could increase the number of courts it currently serves by more than 30%, firmly establishing its number one rank in number of e-file courts in operation.

Wednesday August 11 1999
CSFB cuts Reed estimates
Credit Suisse First Boston said on Wednesday it had cut its earnings estimates on Anglo-Dutch publishing group Reed Elsevier by five and 15% for the fiscal years 1999 and 2000, but continued to rate the stock as a "buy." The investment bank said Reed was struggling to change its businesses to accomodate the electronic age, with margins having fallen from 25% in 1996 to an estimated 23% in 1999.

Thursday August 5 1999
Elsevier slips to year-low on outlook
Shares in publisher Elsevier slid 5.6% in morning trade in Amsterdam on Thursday after the Anglo-Dutch firm said it saw little upturn in the second half of 1999. The stock was trading at EUR 10.95 after earlier dipping to EUR 10.90. The previous year-low was EUR 11.20 reached in June. Earlier on Thursday, Elsevier reported first-half adjusted pre-tax profit of GBP 371 mln versus 413 million a year ago, in line with analysts' expectations.

Reed Elsevier says H2 profit growth unlikely
Reed Elsevier said on Thursday it was unlikely to see growth in second-half profits after its interim earnings fell 10%. Reed Elsevier reported adjusted pre-tax profits of 371 million pounds for the first half ended in June, in line with market forecasts of 360-386 million pounds. "Revenue development and cost trends in the business suggest that the second half is unlikely to see growth in adjusted pre-tax profits over the corresponding prior year period", Reed Elsevier Chairman Morris Tabaksblat said in a statement.

Reed to cut 300 US jobs, take H2 charge
Reed Elsevier said on Thursday it would take a charge of up to USD 30 mln in the second half for the restructuring of its business-to-business unit Cahners. "The restructuring plan involves 300 job losses in the US", Chief Financial Officer Mark Armour said. In its earnings statement, Reed said Cahners' entertainment division performed well in the first half, although several key business markets were weak, including US manufacturing, electronics and travel publishing.

Friday July 30 1999
Reed Elsevier H1 profit seen down
Reed Elsevier is expected to post sharply lower first-half profits next week due to tough trading conditions at core operations such as its Lexis-Nexis legal and news database. Reed, which finally named its new chief executive last week after nearly a year-long search, is seen reporting next Thursday that its first-half profits fell to GBP 360-386 mln (USD 583-USD 626 mln) from GBP 413 mln a year earlier.

Tuesday July 20 1999
Reed Elsevier finally gets its man
Anglo-Dutch publisher Reed Elsevier, which had been searching for a chief executive for almost a year, said on Tuesday it had appointed Crispin Davis to the job and he would start on September 1. Davis, 50, joins Reed Elsevier from media services company Aegis Group, where he has been chief executive since 1994.

Reed Elsevier rebound still a way off
The appointment on Tuesday of Crispin Davis, former chief executive of media services group Aegis, is only the first step in an attempt to rescue Reed Elsevier and turn around its flagging share price, analysts say. Investors are expected to have to wait for another six months while Davis comes to grips with the company and formulates a recovery plan.

Thursday June 17 1999
Reed Elsevier bounces on new bid talk
Shares in Reed International and Elsevier rose sharply on Thursday after the Wall Street Journal reported that new Chairman Morris Tabaksblat said Reed may look entirely different in 10 years and could even be merged or acquired. Reed Elsevier, owner of the Lexis-Nexis database, The Lancet medical journal and showbiz paper Variety, has long been a subject of bid rumours due to sluggish profit prospects as it prepares its core print business for the online age.

Wednesday June 9 1999
Elsevier profit warning investigated
The Amsterdam stock exchange said yesterday it will investigate the leak of Reed Elsevier's profit warning on Monday. While no details of the proble were released, it is seen focusing a report in Dutch newspaper De Telegraaf that a meeting of analysts in New York had been told of the profit decline over a week before it was officially announced.

Tuesday June 8 1999
Elsevier raised to neutral
Morgan Stanley Dean Witter said on Tuesday it raised its investment rating on Dutch publishing group Elsevier to neutral from underperform. Further details were not immediately available. Elsevier shares fell sharply on Monday, along with those from its UK-quoted partner Reed International, after parent Reed Elsevier warned of a downturn in profits in the current year.

Monday June 7 1999
Reed Elsevier issues profit warning
Anglo-Dutch publishing group Reed Elsevier warned on Monday that 1999 profits were likely to fall below last year's level, sending its shares spinning lower. The firm blamed tougher-than-expected competition at its U.S. Lexis-Nexis legal database unit and weak advertising revenues at business-to-business publisher Cahners Business Information.

Friday May 28 1999
Reed Elsevier says 1999 net profit to fall - paper
Anglo-Dutch publishing group Reed Elsevier is expecting its net profit to decline this year, Dutch newspaper De Telegraaf said on Friday. The publisher said this at a meeting of analysts in New York, according to the newspaper. In particular, the Lexis-Nexis legal database was faring badly, De Telegraaf said. No one at the company was immediately available for comment. In March, the Reed Elsevier group said it expected no significant profit growth in 1999.

Reed Elsevier denies profit warning statement
Reed Elsevier on Friday denied a newspaper report that it expected full year results to fall. "We had no analysts meeting. All senior management was in the office. In addition, we normally never make a statement over the full year. New York investor relations was having treasury meetings in London", a spokesman for the company said.

Tuesday April 20 1999
Reed Elsevier chief to step down
Herman Bruggink, the co-chairman of Reed Elsevier, plans to step down as soon as a new chief executive offices is named. 'The new man will put together his own board. It is unlikely it will be on it', he said. Since last August, it was clear that Bruggink will have to relinquish his top position to the new chief, but it was believed that he would stay on as a memeber of the new board.

Wednesday April 14 1999
Reed Elsevier acquires US publisher
Reed Elsevier said on Wednesday it has acquired US publisher Cell Press. Cell Press publishes medical magazines for the professional market. Financial details of the acquisition were not disclosed.

Monday April 12 1999
Reed Elsevier in firing line
Reed Elsevier will come under fire this week as shareholders bombard the company with questions about its perceived lack of direction. The company's parents, Reed International and Elsevier, will face shareholders at their annual meetings amid market speculation that the company might revive merger talks with Dutch publisher Wolters Kluwer .

Reed Elsevier says business unit is core
Reed Elsevier said on Monday its business publishing unit is a core part of its business, casting doubt on a newspaper report that it might sell the division. Britain's Observer newspaper reported on Sunday that Reed is mulling a GBP 4 bn demerger of the business publishing and exhibitions business in a move that could pave the way for a merger with Dutch publisher Wolters Kluwer .

Tuesday April 6 1999
Elsevier still without chairman
Elsevier remains without a new chief executive officer after talks with a candidate collapsed, the company said on Tuesday. The company has been seeking a new top executive since last August. Supervisory board directors, Pierre Vinken and Loek van Vollenhoven, have resigned because of their dissattisfaction with the state of affairs at the publisher.

Monday March 29 1999
Acquisition rumours lift Elsevier
Share prices of Elsevier were lifted by 5% on Monday thanks to a report that its former merger partner Wolters Kluwer had secretly made a NLG 49.5 bn bid for Reed Elsevier. Elsevier shares closed at EUR 13.25, while those of Wolters Kluwer were unchanged at EUR 167.

Thursday March 11 1999
Reed Elsevier 98 profit dips, sees little 99 growth
Anglo-Dutch publishing group Reed Elsevier said on Thursday it expected no significant profit growth in 1999. Earlier on Thursday, the company posted 1998 pre-tax profits of NLG 2.535 bn, compared with NLG 2.625 bn in the previous year, a fall of 3%. Turnover decreased 4% to NLG 10.7 bn. Reed Elsevier said the reason for the slowdown in profit growth was its investment in electronic publishing, cut-throat competition in the US and falling advertising revenue in the UK.

Wednesday December 16 1998
Reed Elsevier mum on renewed Microsoft talk
Anglo-Dutch publishing giant Reed Elsevier today declined to comment on renewed market merger rumors linking it with U.S. software giant Microsoft. Reed Elsevier's shares, which hit year lows two weeks ago after a profit warning, made a sharp rebound as dealers replayed talk that Microsoft might make a bid for the publisher.

Thursday December 3 1998
Reed Elsevier issues profit warning
Reed Elsevier issued an unexpected profit warning on Thuesday, forecasting a full-year fall of 4% in guilders and 6% in sterling compared with 1997 figures. The company attributed the downgrade to worse than expected market circumstances. The group predicts 1998 pre-tax profit of NLG 2.5 bn.

Wednesday November 25 1998
Reed Elsevier acquires Austrian Verlag Orac
Reed Elsevier announced on Wednesday that its legal devision has acquired Austrian Verlag Orac. Reed Elsevier is also to take over a 50% stake in HVG-Orac, a Hongarian publisher of legal publications, from Orac, and a 51% stake in Orac Publishers in the Czech republic. Financial details were not disclosed.

Tuesday October 20 1998
Nexis database launching Web version
Lexis-Nexis business customers will soon have access to the company's database of newspapers and magazines via the Web, the company said. The Dayton, Ohio-based company currently provides its databases-containing more than 22,000 domestic and international newspapers, magazines and other publications-via a software package that requires training to use.

Friday October 16 1998
Lexis-Nexis to offer its database via Web
Lexis-Nexis, a division of Reed Elsevier, is to offer its business customers access to the company's database of newspapers and magazines via the Web, the company said on Friday. The new Lexis-Nexis Universe, to be launched next week, will be available through desktop computers using browser-based software.

No profit warning from Elsevier
Reed Elsevier did not publish a profit warning on Friday, neither did the company provide a form forecast for its 1998 earnings. The company's share was hit this week by rumours circulating the Amsterdam stock exchange. Reed Elsevier's financial director Mark Armour said after a meeting held for analysts and investors on Friday that there were signs of a slowdown in the market, especially in the UK.

Thursday October 15 1998
Elsevier shares hit by Rumours
Elsevier's shares were hit hard on Thursday following rumours the group was poised to announce a profit warning. Elsevier closed the session down NLG 2.10 at NLG 25.50. As comment on the rumours Elsevier's spokeman said 'We never do'. On Thursday ING Barings said it was very likely that it would downgrade its profit estimate for the publishing group after today's analysts'meeting.

Thursday September 24 1998
Microsoft said eyeing a publisher
Microsoft and Reed Elsevier are in talks on a deal that could include a takeover bid by the software giant, Dow Jones Newswires reported today. Dow Jones cited an unnamed source at Reed Elsevier. The report came after rumors of a possible bid triggered a rise in Reed Elsevier's stock early this week.

Wednesday September 23 1998
Elsevier shares rise on rumours
Speculation over a possible takeover of parts of the Anglo-Dutch publishing concern Reed Elsevier by an unnamed American software house have boosted Elsevier's share price. According to the Financial Times, there are rumours on the British financial markets that merchant banker Morgan Stanley Dean Witter has been asked to negotiate for the takeover of Reed Elsevier's 'technical publications' on behalf of a US company.

Monday August 24 1998
Reed Elsevier sells illustrated books division
Reed Elsevier has sold its illustrated books businesses to its management for GBP 33 mln. The managers have formed a new company, Octopus Publishing Group, to continue the operations, which last year had sales of GBP 45 mln. Six businesses make up the division, and has 240 staff, mostly based in London. The businesses manages some 2,000 titles and 500 authors. Reed first put the division up for sale three years ago as part of its move out of consumer publishing.

Thursday August 6 1998
Asian crisis hurts Reed Elsevier
Reed Elsevier has reported a fall in pre-tax profits to GBP 413 mln for the first half of 1998, down 1% on the same period last year. Total turnover was down to GBP 1.6 bn this time, compared to GBP 1.7 bn a year ago. But this reflected disposals, most notably the consumer publishing division IPC magazines in January.

New chief executive for Reed Elsevier
Reed Elsevier may appoint a chief executive from the U.S. following its decision to abandon the sharing of executive power between its London and Amsterdam holding companies. The company said that Nigel Stapleton and Herman Bruggink, the co-chairmen of the group, will step aside for a new chief executive in April next year.

Friday July 31 1998
Reed Elsevier finalises takeover of Matthew Bender & Company
Reed Elsevier has completed the acquisition of Matthew Bender & Company and its 50% ownership interest in legal citation provider Shepard's. The transaction is valued at USD 1.65 bn and was first announced on April 27, 1998.

Friday July 3 1998
Reed Elsevier sells ABC Corporate Services
Travel Services International said it has signed a definitive agreement to acquire the assets of ABC Corporate Services from Reed Elsevier Inc. Travel Services said in a statement the consideration will be paid in cash and is expected to increase earnings in 1998. Further terms were not disclosed. The acquisition will include the ABC Premier Hotel Program, including the ABC Premier Hotel Guide, and ABC Travelers Emergency Service Systems, providing after-hours travel services for certain travel agency corporate accounts.

Reached the maximum of 100 news messages

Hebels Financial Website believes the information herein was obtained from reliable sources but does not guarantee its accuracy. Neither the information nor any opinion expressed constitutes a solicitation of the purchase or sale of securities, derivatives or commodities. © 2002 Hebels Financial Website