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News Corp Eyes Cash Bid For Pearson PLC's Penguin Group-Reuters


Sunday, 28 Oct 2012 07:48am EDT 

Reuters reported that News Corp has indicated it will make a substantial cash offer for media conglomerate Pearson PLC's Penguin Group, joining the race for the book publisher, the Sunday Times reported. In an unsourced report, the paper said the bid could total around GBP1 billion ($1.6 billion) and could scupper plans to tie Penguin with Random House, owned by Germany's Bertelsmann. 

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