Harcourt Sets Deadline on Its Bid for Harper
Harcourt Brace Jovanovich Inc. said Wednesday that it has set a March 30 deadline in its $220-million bid for Harper & Row Publishers Inc.
Orlando, Fla.-based Harcourt said it plans to pursue the acquisition of Harper “only if a mutually satisfactory merger agreement can be negotiated.”
Harcourt said it had informed Harper’s representatives that it will withdraw its $50-a-share proposal if the companies fail to make satisfactory progress in their discussions by the close of business on March 30. Harper had no comment on Harcourt’s statement.
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