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Sale Of Pearson's IDC Unit Edges Toward Next Round - Sources

By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Next-round bids for Interactive Data Corp. (IDC), the U.S.-listed financial-data provider majority owned by U.K. publisher Pearson PLC (PSO), are due by April 30, people familiar with the situation told Dow Jones Newswires on Monday. Bids are expected from three buyout groups and one strategic player. Kohlberg Kravis Roberts and CVC Capital Partners have teamed up and have hired Stuart Clark, former IDC chief executive, as an advisor; Warburg Pincus has now joined Hellman & Friedman and Silver Lake Partners to submit a joint bid; and Bain Capital is bidding jointly with Advent International, people said. Trade player McGraw-Hill Cos. (MHP) is also expected to put in a bid, having submitted in the initial round. Pearson, which also publishes the Financial Times newspaper and owns a large U.S. educational publishing business, hired Goldman Sachs (GS) in January to conduct a "preliminary review of strategic alternatives" for IDC, in which it has a 61% stake. This led to a sales process, and the company shortlisted a handful of bidders earlier this month, people previously told Dow Jones. A representative for Pearson declined to comment. Representatives for McGraw Hill and Goldman Sachs weren't immediately available to comment. -By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com (Lilly Vitorovich in London and Melissa Korn in New York contributed to this item.)

Stock News for Interactive Data (IDC)
DateTimeHeadline
07/26/201002:51:30Pearson Upgrades Outlook For 2010 After Strong First Half
05/10/201009:56:13Interactive Data 1Q Profit Falls 7.6%; Revenue Increases
05/04/201010:03:21MARKET SNAPSHOT: Euro-zone Fears Rattle U.S. Stocks; Pfizer Climbs
05/04/201004:24:15Pearson Agrees To Sell Interactive Data Stake For Around $2 Billion
05/04/201004:09:26Pearson Sells 61% Stake In Interactive Data For $33.86/Share
04/30/201003:22:44CORRECT: Pearson 1Q Revenue Up 7%; Sees Profit Growth
04/30/201002:52:22Pearson 1Q Revenue Up 7%; Sees Profit Growth
04/12/201014:16:32Sale Of Pearson's IDC Unit Edges Toward Next Round - Sources
03/29/201019:39:14KKR, CVC Team Up To Bid For Pearson's IDC - Source
03/24/201015:14:31Apax Partners Out Of Auction For Pearson's IDC -Source
03/01/201013:27:35Pearson Short-Lists 4 Bids In 2nd Round Of IDC Sale - Sources
03/01/201002:52:01Pearson Posts Strong Earnings, Upgrades Dividend, Outlook Upbeat
02/19/201010:22:16Pearson's IDC Sale Set To Move Into Second Round - Sources
01/15/201003:06:06Pearson Says IDC Is Reviewing Options

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