Welsh Carson Buys Knight-Ridder Financial To Expand In Market Data
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Knight-Ridder announced plans to sell its Knight-Ridder Financial (KRF) subsidiary to Welsh Carson Anderson & Stowe's Global Financial Information Corp. (GFI) last Tuesday. The agreed-upon price was an unexpectedly hefty $275 million.
According to the announcement, Knight-Ridder did the deal through the Welsh Carson-owned market data company GFI. The sale, which is still subject to regulatory approvals, falls short of the $400 million Knight-Ridder initially sought for its troubled unit.
However
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