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Report: Apax plans to make a play for PR Newswire

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London—Private equity group Apax Partners is planning a bid for PR Newswire, the press release distribution service that is one of the biggest components of United Business Media, according to a report in The Times (U.K.).

The report said Apax has in recent weeks been angling for the business, which could fetch about $968 million. PR Newswire has been on a growth curve because of Sarbanes-Oxley requirements that U.S. companies disclose more financial information.

Apax Partners’ funds invest in companies across six business sectors: information technology; telecommunications; health care; media; financial services; and retail and consumer.

—Matthew Schwartz

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