New York—Investment bank Wasserstein & Co. is denying a published report that its private equity arm, US Equity, has been exploring talks to sell ALM (American Lawyer Media).
The report, which crossed the wires late Tuesday, was published online by the Daily Telegraph. The U.K.-based newspaper said US Equity has been holding talks to sell ALM for a potential $700 million.
In a statement given to BtoB, Anup Bagaria, vice chairman of Wasserstein & Co., said:
“Contrary to published reports, Wasserstein & Co. is not currently conducting an auction or soliciting bids for the purchase of ALM. ALM is a successful and valued part of our growing media portfolio. As a private equity fund, we often discuss opportunities with parties who have a potential interest in specific Wasserstein & Co. properties, as part of our normal course of business.”
ALM’s publications and online properties include The American Lawyer, Corporate Counsel, Real Estate Forum, GlobeSt.com and Law.com.