Publisher Macmillan Inc. and Kohlberg Kravis Roberts...
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Publisher Macmillan Inc. and Kohlberg Kravis Roberts & Co., the leading leveraged buyout firm, said they terminated an agreement to have KKR buy several Macmillan units for $400 million. The companies blamed each other for the deal’s failure. Macmillan was acquired last month by British publisher Maxwell Communications Corp. for $2.5 billion. Meanwhile, Robert Maxwell said he was selling his British printing interests for up to $540 million to help pay for the purchase of Macmillan. He said the management buyout of the BPCC printing interests by Bucksmere Ltd. would free financial and management resources to help Maxwell Communication focus on its publishing and information units.
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