Wolters, Reed Elsevier merger off

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Dutch publisher Wolters Kluwer and Anglo-Dutch publisher Reed Elsevier have canceled merger plans due to matters that arose in the course of financial due diligence. "Reed International and Elsevier have concluded that to make the significant changes to the merger terms that Wolters Kluwer felt necessary to protect the interests of the shareholders would make the merger unattractive from the standpoint of Reed and Elsevier shareholders," the companies said in a joint statement. The companies also were concerned about restrictions that might be placed on the deal from U.S. and European regulators.

Copyright March 1998, Crain Communications Inc.

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