Nearly seven years after selling ALM Media Properties to private equity-owned British publisher Incisive Media for $630 million, the investment arm of late attorney and financier Bruce Wasserstein is leading a group that has agreed to acquire the legal publishing giant.
Though the purchase price was not disclosed, The New York Times, citing a person briefed on the matter, pegged the deal’s value at $417 million. The sale of ALM, which is owned by The Royal Bank of Scotland Group and London-based private equity firm Apax Partners, is expected to close by the end of September. The company began seeking a buyer earlier this year.
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