GFI Completes Deal For KRF Naming New Senior Managers
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Global Financial Information's (GFI) acquisition of Knight-Ridder Financial (KRF) for $275 million closed last week, two months after GFI first announced the deal. With the acquisition now finalized, GFI has named its new senior managers and is looking at which products to integrate.
For this deal to be successful, GFI will have to realize major cost savings, since Knight-Ridder's profits in 1995 were just over $3 million on revenues of $193 million (according to FX Week's sibling publication Ins
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