Bloomberg has completed its acquisition of The Bureau of National Affairs, Inc (BNA) which is now a stand-alone wholly-owned subsidiary of Bloomberg.
The acquisition was overwhelmingly accepted by the BNA owner/employees, who tendered approximately 95% of their stock within the 20 business day offering period. Additionally, Bloomberg received an early termination of the waiting period under the Hart-Scott-Rodino Act.
The combination propels Bloomberg Law’s expansion into the legal information market and increases Bloomberg’s presence in the Washington, D.C. area where BNA is based. In addition, the combination expands Bloomberg’s coverage and analysis of tax and accounting, labor and employment, healthcare, intellectual property, and telecommunications issues. BNA will be led by its current management team and it will be part of the Bloomberg Industry Verticals Group.
Source: Market Watch