Cengage Gets Conditional OK To Buy Textbook Unit

Law360, New York (May 29, 2008, 12:00 AM EDT) -- The U.S. Department of Justice will allow Cengage Learning Inc. to proceed with its proposed $750 million acquisition of a Houghton Mifflin Harcourt Publishing Co. division, provided it sells assets related to textbooks and educational materials, the DOJ said Wednesday.

The DOJ said in a statement that the takeover, as originally proposed, would have eliminated competition between Cengage and Houghton Mifflin's college division, leading to lower quality or higher prices of textbooks and related educational materials.

The government is requiring Cengage to divest itself of all...
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