Hints and tips:
...In 2006, ChoicePoint, a consumer data broker, paid $10m to settle FTC charges of lax electronic security practices affecting 163,000 consumers under that 1970 law....
...Eric Johnson, dean of the Owen Graduate School of Management at Vanderbilt University in Nashville, Tennessee, drew a parallel with the ChoicePoint incident in 2005, when it emerged that the data warehouser...
...However, this left its balance sheet stretched when six months later it announced the $4.1bn acquisition of Choicepoint, the insurance services business....
...He bears at least some of the blame for the pricey acquisition of Choicepoint, an insurance data business, and for an unpopular £1bn ($1.6bn) share placing that ensued in 2009, after Sir Crispin had left...
...Mr Prozes, 64, has had three bosses and oversaw the $4.1bn (£2.6bn) acquisition of Choicepoint in 2008, as well as facing competition from Thomson Reuters’ Westlaw and more recently, Bloomberg Law....
...LexisNexis, the data business, saw profits rise from £513m to £665m, boosted by the 2008 acquisition of ChoicePoint, the risk data business....
...The group’s borrowings increased last year when it bought Choicepoint, a provider of services to the insurance industry, for $4.1bn....
...Last year the publisher spent $4.1bn on the acquisition of Choicepoint, a provider of services to the insurance industry....
...Pressing ahead with difficult decisions is a classic for new chief executives, especially if the root cause of the trouble occurred before their arrival – in this case the ill-timed acquisition of ChoicePoint...
...Reed has about $5bn of debt to refinance before 2012 and must repay $2bn of ChoicePoint acquisition financing in March 2010 and $2.2bn a year later....
...Proceeds from the sale of RBI were expected to pay debt following the group’s £4.1bn acquisition of ChoicePoint, an insurance industry service provider....
...The largest deals closed last year were Reed Elsevier’s €2.4bn acquisition of ChoicePoint, the US risk IT group; KKR’s €773m buy-out of Northgate Information Solutions, another group with many government...
...Epic says the FTC has brought cases before to enforce privacy and protect consumers’ personal information, including action against the ChoicePoint data aggregation service in 2006 that included $15m in...
...It expected Reed to repay the ChoicePoint debt partly through proceeds from RBI and partly through debt issuance....
...Reed’s priority is now to refinance the ChoicePoint acquisition facility fast. That would help kill idle and ill-informed chatter about threats to the dividend. RBI can’t expect much love....
...“Reed doesn’t need a deal now, but in a year’s time after the acquisition of ChoicePoint is bedded down it may become a more opportune time to revisit it.”...
...Reed needs to repay $2bn (£1.2bn) of ChoicePoint acquisition financing in March 2010, with the remaining $2.2bn a year later. Reed’s $3bn committed back-up bank lines expire in May 2010....
...The cash would offset the cost of buying ChoicePoint, which provides insurance data....
...Most recently, Reed has put its lower-growth magazine arm up for sale and entered a deal to buy ChoicePoint, a provider of insurance data, for £1.76bn, part of further radical restructuring plans unveiled...
...However, ChoicePoint’s screening and authentication division and its business services operation have struggled....
...Shares in the Anglo-Dutch group jumped 7.5% to 627.5p on news of Reed’s $4.1bn bid for ChoicePoint, a US risk management and data collection company....
...The challenge now, he admits, is to ensure that the Reed Business sale, the cost savings and the ChoicePoint integration are executed well....
...Thomson Corp’s £7.9bn ($15.9bn) acquisition of Reuters is due to complete in April, while Reed Elsevier announced last month a £2.1bn bid for Choicepoint of the US, the sale of its trade magazines and a...
...And the plan by Reed Elsevier (Anglo-Dutch entity that can trace its origins to Tovil Mill, in Kent, in 1894) to refocus its business online by paying $4.1bn for ChoicePoint will be just fine....
...Shares in the Anglo-Dutch group jumped 7.5 per cent or 43.5p to 627.5p on news of a $4.1bn bid for ChoicePoint, a US risk management and data collection company which earns 80 per cent of its profits from...
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