Educational software publisher Riverdeep Group is in talks to buy larger US rival Houghton Mifflin in a $3.5 billion reverse takeover, the Financial Times reports today.
Investment bank Credit Suisse, which had backed Riverdeep in the past, was understood to be involved in financing the transaction, the newspaper said, without citing sources.
Boston-based Houghton Mifflin was sold in 2002 by Vivendi Universal to three US investment firms as part of a broad corporate divestiture to pare down debt.
