Penton Media Inc., a business-to-business media firm, has retained Credit Suisse Securities LLC to assist it in exploring strategic alternatives, including a possible sale.
According to Penton, now is an opportune time for such an investigation, as the company has improved its operation income since the 2001 recession. Penton’s board of directors has formed a special committee charged with representing the interests of the shareholders, should there be a sale.
A fair amount of the proceeds from a sale would go to paying off the company’s debt obligations, which as of March 31 amounted to around $317 million.
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