Is all Springer Science + Business now in Play?

Bloomberg is reporting that bids for the 'up to' 49% share of Springer have been disappointing at the PE owners may be considering sale of the business or sale of a majority stake. Earlier this week bids from a short list of PE firms were noted in the press but these appear to be lower than expected. From the report (Bloomberg)

The Berlin-based publisher may draw better offers with the sale of the whole company or even majority control, the people said. Springer Science announced in April it planned to sell as much as 49 percent of the company to lower debt and fund acquisitions. Offers haven’t met the company’s targets, the people said.

The initial stake sale was intended to raise as much as 500 million euros ($740 million), Eric Merkel-Sobotta, a Springer Science spokesman, had said.

EQT Partners AB, a Swedish private-equity firm partly owned by the Wallenberg family, TPG Inc., Apax Partners LLP and a combination of Providence Equity Partners Ltd. and the Carlyle Group were among the bidders for that stake. The bidders learned Sept. 18 that EQT was the frontrunner, the people said. TPG Inc., Apax and the combination of Providence Equity and Carlyle remain in the running.