Bertelsmann makes highest bid to acquire Simon & Schuster – Financial Times

FILE PHOTO: Pencils with the logo of German media group Bertelsmann CEO are seen at the annual news conference Berlin, Germany, March 22, 2016. REUTERS/Fabrizio Bensch

(Reuters) – German media group Bertelsmann made the highest bid in an auction for Simon & Schuster, the publishing unit of ViacomCBS Inc, Financial Times reported on Tuesday, citing people familiar with the matter.

Two people familiar with the process said Bertelsmann offered more than $2 billion, the report said. (on.ft.com/3fse6Xo)

ViacomCBS did not immediately respond to a Reuters request for comment.

Reporting by Ayanti Bera in Bengaluru; Editing by Devika Syamnath

source: reuters.com