Skadden, Arps, Slate, Meagher & Flom is advising Japanese media group Nikkei Inc. on its proposed $1.3 billion purchase of FT Group, publisher of the Financial Times, from U.K. education company Pearson Plc.
Nikkei, Japan’s largest media company with a circulation of about 3 million and which publishes a top business newspaper of the same name, beat out Axel Springer for the acquisition. Axel Springer had been in talks with Pearson about buying FT Group for nearly a year before Nikkei swept in just over a month ago with a stronger bid.
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