Thursday, March 22, 2007
ALM + $1 Billion + A Little Froth = Yours
Crain's New York Business reports that Wasserstein & Co. has retained Credit Suisse to possibly sell ALM (formerly American Lawyer Media), "valued by analysts at close to $1 billion."
Key grab:
"The market's pretty frothy right now," said Reed Phillips, managing director at Desilva & Phillips. "The company's probably in a good position to go to market. It's hitting on all cylinders in how it's performing."
The official press release is here.
Of course, The Telegraph (UK) had the story back in November, which elicited a weak denial:
Asked about a possible sale of ALM, Anup Bagaria, vice chairman of Wasserstein & Co, said: "We are not sending a book out on ALM and we are not running an auction process. We have talked to people about the company. If the right price came along, we could sell."
ALM is a terrific, well-led company. I had the pleasure of working with them on a project for Richmond Events, and I was impressed by what I saw. I'm sure potential buyers will be as well.
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Key grab:
"The market's pretty frothy right now," said Reed Phillips, managing director at Desilva & Phillips. "The company's probably in a good position to go to market. It's hitting on all cylinders in how it's performing."
The official press release is here.
Of course, The Telegraph (UK) had the story back in November, which elicited a weak denial:
Asked about a possible sale of ALM, Anup Bagaria, vice chairman of Wasserstein & Co, said: "We are not sending a book out on ALM and we are not running an auction process. We have talked to people about the company. If the right price came along, we could sell."
ALM is a terrific, well-led company. I had the pleasure of working with them on a project for Richmond Events, and I was impressed by what I saw. I'm sure potential buyers will be as well.
