The U.S. Justice Department has approved Houghton Mifflin Riverdeep Group's $4 billion acquisition of Anglo-Dutch publishing firm Reed Elsevier's Harcourt U.S. Schools Education Business, Reed Elsevier said Wednesday.
Reed Elsevier said it planned to return the net proceeds of the sale to investors via a special dividend, in January 2008.
Completion of this transaction is expected to take place in mid-December, Reed said in a statement.
U.S. regulators are still reviewing the sale of a separate part of the Harcourt business, Harcourt's Assessment unit, to Pearson PLC, Reed said. The company expects this transaction to be completed by late 2007 or early 2008.
The sale of the Harcourt Education International businesses to Pearson was completed earlier this year.
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