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Bertelsmann leads race to acquire Simon & Schuster

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Germany's Bertelsmann reportedly is close to reaching a deal that would entrench its position as the world's biggest book publisher.

The company, which owns Penguin Random House, was the highest bidder in an auction for Simon & Schuster, the publishing arm of ViacomCBS.

Bertelsmann offered more than $2 billion, sources familiar with the matter said.

Read more from the Financial Times.

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