OTHER NEWS - Aug. 20, 1992
From Times Staff and Wire Reports
Japanese Publisher Agrees to Buy Berlitz: Berlitz International Inc., the language publishing company controlled by bankrupt Maxwell Communication Inc., has agreed to be acquired by Fukutake Publishing Co. of Japan. The companies announced that Fukutake’s U.S. subsidiary will buy 67% of Berlitz for $410 million cash. The deal will unite one of the nation’s largest language services companies with one of Japan’s leading educational correspondence companies. The merger, which must be approved by two-thirds of Berlitz’s shareholders, is expected to be completed by the end of the year. The companies did not disclose the value of the deal.
