Macmillan OKs $2.5-Billion Bid

Macmillan Inc. said today it has agreed to be acquired by the investment firm Kohlberg Kravis Roberts & Co., whose $2.5-billion bid narrowly beat British publisher Robert Maxwell in a heated auction for the publishing and information company.

In its improved offer, Kohlberg said it would offer cash and securities valued at $90.05 a share for each of Macmillan’s 27.8 million outstanding shares.